Japan Considers Merging Crypto Oversight Into Securities Law, Faces Pushback

Japan’s government is considering incorporating cryptocurrencies into the Financial Instruments and Exchange Act (FIEA), a move away from their current classification under the Payment Services Act. The move seeks to strengthen investor protection and align crypto oversight with securities regulation, though the advisory council remains concerned about the potential risks of extending this framework too broadly. Japan Considers Major Shift in Crypto Regulation The Financial Services Agency (FSA) presented a proposal during a Financial System Council working group on September 2 to regulate cryptocurrencies under the Financial Instruments and Exchange Act (FIEA). Currently, crypto assets are governed by the Payment Services Act, but the agency believes shifting oversight to the FIEA would better address their rising role as investment products source: https://beincrypto.com/japan-considers-merging-crypto-oversight-into-securities-law-faces-pushback/