Japan moves to classify cryptocurrencies as financial products
CoinDesk·3h ago·Neutral
What Happened
Japan's cabinet approved a draft amendment to classify cryptocurrencies as financial products under the Financial Instruments and Exchange Act. The law could take effect by fiscal 2027 if passed. Currently, crypto is regulated as a payment tool. New rules would ban insider trading, require annual disclosures, and increase penalties. Prison sentences could reach ten years; fines up to 10 million yen.
Key Entities
JapanCryptocurrenciesFinancial Instruments and Exchange ActPayment Services ActSatsuki KatayamaSecurities and Exchange Surveillance CommissionFiscal 2027