Japan — crypto regulation

Status: legal · Last reviewed 2026-11-05

The Diet passed the FIEA and Payment Services Act amendment on 15 Jul 2026, moving crypto assets out of the Payment Services Act and into securities-style rules under the FIEA. It brings insider-trading bans, issuer disclosure, and up to 10 years in prison for unregistered operators. Most provisions take effect by Cabinet Order within a year of promulgation, expected in 2027. A flat ~20% separate tax on crypto gains is expected from Jan 2028, and the law opens a path to domestic crypto ETFs. JPYC is live as a regulated yen stablecoin, the three megabanks plan a joint yen stablecoin by Mar 2027, and Mt. Gox repayments have been extended to Oct 2027.

Legislation

• Cabinet Office Ordinance — Foreign Trust-Type Stablecoins as Electronic Payment Instruments (2026)
• Payment Services Act — Crypto Asset Provisions (2017)
• Financial Instruments and Exchange Act — Security Tokens (2019)
• PSA Amendment — Stablecoin Framework (EPIs) (2023)
• 2023 Corporate Crypto Tax Reform (2023)
• PSA Amendment 2025 — Crypto Intermediary Service (2025)
• FIEA and Payment Services Act Amendment — Crypto Assets as Financial Instruments (2026)
• 2026 Tax Reform — 20% Separate Taxation (2028)