Japan’s Financial Services Agency (FSA) is set to review cryptocurrency legislation, considering the classification of digital assets as financial products “on par with securities.” This was reported by Nikkei.
A special expert group within the FSA will analyze current regulations and present a reform plan by the end of June. The specialists also intend to seek comments from the Financial System Council, which will convene in the autumn.
The proposals will be refined based on feedback and submitted for government consideration in 2026.
The new rules could be introduced as part of the Financial Instruments and Exchange Act or a set of regulations for payment instruments under the Payment Services Act.
In October 2024, a group of Japanese companies published a series of proposals regarding the launch of cryptocurrency ETFs focusing on Bitcoin and Ethereum. They also recommended revising the tax policy on digital asset transactions.
In December, Prime Minister Shigeru Ishiba noted that the government needs to decide whether to simplify cryptocurrency investment for the general public. Authorities also expressed skepticism about the idea of incorporating cryptocurrencies into the national reserve.
Back in February 2025, FSA officials requested Apple and Google to block applications from five foreign cryptocurrency exchanges: Bybit, MEXC Global, LBank Exchange, KuCoin, and Bitget.