Amendments to Laws Regulating Crypto Currencies

Author: Masayuki Fukuda, Hideaki Suda (co-author)

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Publisher: Nagashima Ohno & Tsunematsu

Journal / Book: NO&T Japan Legal Update No.17 (April, 2019)

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*Please note that this newsletter is for informational purposes only and does not constitute legal advice. In addition, it is based on information as of its date of publication and does not reflect information after such date. In particular, please also note that preliminary reports in this newsletter may differ from current interpretations and practice depending on the nature of the report.

I. Introduction
On March 15, 2019, the Cabinet submitted a bill to the 198th session of the Diet to amend, among others, the Payment Services Act (the “PSA”) and the Financial Instruments and Exchange Act (the “FIEA”) to (a) strengthen the regulations on virtual currency exchange service providers under the PSA; and (b) introduce new regulations on the issue of security-type digital tokens (ICO/STO) and derivative transactions of crypto currencies and certain other regulations under the FIEA (the “Bill”).

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