CoinDesk reports:

Japan is advancing a round of cryptocurrency regulatory reforms. The House of Representatives has passed related legislation to shift the regulatory foundation for crypto assets from the Payment Services Act to the Financial Instruments and Exchange Act. This means Japan will increasingly treat crypto assets like investment products such as stocks, rather than primarily viewing them as payment tools.

Regulatory framework shifts toward financial instruments

The Financial Services Agency of Japan stated that one of the reasons for promoting legislative amendments is that crypto assets have become more widely integrated into the investment market. Official data cited shows that Japan currently has over 14 million crypto…