🔥Japan's Cabinet Approves Amendment Classifying Cryptocurrency as a Financial Commodity

According to Nikkei News, on April 10th, the Japanese government approved an amendment to the Financial Instruments and Exchange Act during a Cabinet meeting. The amendment for the first time regulates crypto assets as financial commodities, bans insider trading, and requires issuers to disclose information annually. If the bill passes through Congress, implementation is expected as early as the 2027 fiscal year. Previously, cryptocurrencies were regulated under the Fund Settlement Act, but they are now incorporated into a new framework due to increased use as investment tools. The registration agency name will change from "Crypto Asset Exchange Operator" to "Crypto Asset Trading Operator." Penalties have been strengthened: the maximum imprisonment for unregistered sales organizations has increased from 3 years to 10 years, and the maximum fine has risen from 3 million yen to 10 million yen, to enhance investor protection.