Japan’s Financial Services Agency (FSA) is set to propose a major revision to its cryptocurrency regulations, aiming to classify digital currencies as financial assets under the Financial Instruments and Exchange Act. This potential amendment, expected to be presented to Japan’s parliament as early as next year, will align crypto assets with existing financial products, including the implementation of insider trading laws similar to those governing traditional securities.
This proposed shift is part of a broader global trend to establish clearer frameworks for digital asset regulation. Recently, the U.S. Commodity Futures Trading Commission (CFTC) announced its decision to treat digital asset derivatives like other financial products. Similarly, the Federal Deposit Insurance Corporation (FDIC) has introduced new rules that allow banks to engage in cryptocurrency transactions without prior permission, provided they manage associated risks effectively.
Travis Hill, Acting Chairman of the FDIC, emphasized the agency’s move towards a more flexible approach, marking a departure from previous more conservative stances. In parallel, the Office of the Comptroller of the Currency (OCC) has issued guidance for banks to manage crypto-related risks, treating crypto operations as part of mainstream banking activities.
These evolving regulatory efforts highlight a growing global recognition of the role of digital assets in the financial ecosystem and a shared goal to create a safer, more stable environment for their integration.
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