According to a report Friday (April 10) from Nikkei, a draft amendment before the country’s Cabinet would place crypto assets under the Financial Instruments and Exchange Act, a framework used for stocks and securities. 

Assuming the measure passes during the current legislative session, the law could go into effect as soon as fiscal 2027, the report said.

Before now, Japan’s Financial Services Agency (FSA) has regulated crypto under the Payment Services Act, due to the digital currency’s potential use as a payment method.

But with crypto becoming an investment instrument, the FSA wants to move regulation to the Financial Instruments and…