1. Japan’s Upper House Passes FIEA Amendment, Officially Classifying Crypto Assets as Financial Instruments link

Japan’s House of Councillors plenary session passed amendments to the Financial Instruments and Exchange Act and the Funds Settlement Act, formally defining cryptocurrencies as “financial products” under law for the first time. To strengthen investor protection, Japan has introduced insider trading regulations for the crypto sector for the first time, banning transactions based on undisclosed material information and granting investigative authority to the Securities and Exchange Surveillance Commission. The maximum penalty for unlicensed operations has been raised to 10 years’ imprisonment or a fine of 10 million…