"The Japanese government has reportedly approved a bill to amend the Financial Instruments and Exchange Act, marking a historic shift in digital asset oversight. For the first time, cryptocurrencies will be treated as financial instruments, introducing strict rules to curb insider trading and enhance market transparency."
"Under the proposed law, cryptocurrency issuers must disclose information annually to foster a healthier market environment. Registered operators will be reclassified from crypto asset exchange business to crypto asset trading business, reflecting their role in investment."
"Violators of the proposed regulations face significant penalties. Unregistered sellers could face prison terms of up to 10 years, while maximum fines will increase from approximately $18,800 to $62,800."
The Japanese government has approved an amendment to the Financial Instruments and Exchange Act, reclassifying cryptocurrencies as financial instruments. This change aims to curb insider trading and improve market transparency. Key provisions include a ban on trading based on nonpublic information and annual disclosure requirements for cryptocurrency issuers. Registered operators will be reclassified, and violators face severe penalties, including up to 10 years in prison and fines up to $62,800. The legislation is expected to take effect in fiscal 2027.
Read at news.bitcoin.com
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