Japan Reportedly Could Place Crypto Under Insider Trading Rules
Cryptocurrencies could soon be considered financial products under Japanese law.
The country’s Financial Services Agency (FSA) is working on revising the Financial Instruments and Exchange Act to change the legal status of crypto assets, the Nikkei reported on Sunday (March 30), without citing specific sources.
According to the report, the change would place cryptocurrencies under Japan’s insider trade prohibitions. The FSA could send a bill to amend the legislation to Japan’s parliament as early as next year, the report said.
The Nikkei adds that that agency has been mulling changes to the current system in closed-door study sessions with experts.
The shift comes amid a larger push among regulatory agencies to shift…
