Japan to classify cryptocurrencies as financial products: Report

Japan’s finance regulator is planning to change the country’s laws to classify cryptocurrencies as financial products as early as 2026, according to the local outlet Nikkei. The Financial Services Agency (FSA) plans to submit a bill to parliament to revise the Financial Instruments and Exchange Act as early as next year after having considered the changes through internal study groups, Nikkei reported on March 30 without citing a source. The outlet reported that the details are still being finalized, but the change would see cryptocurrencies likely put under insider trading laws that currently apply to other financial products, such as stocks, which outlaw trades based on insider information. However, cryptocurrencies are likely to be put in a separate category from securities such as stocks and bonds source: https://cointelegraph.com/news/japan-legally-classify-crypto-financial-products-report?utm_source=rss_feed&utm_medium=rss&utm_campaign=rss_partner_inbound