Japan Introduces Revised ‘Crypto-Friendly’ Payment Services Act

Japan's upper house passed amendments to the Payment Services Act, marking a pivotal shift for crypto enterprises. The revised law introduces an 'intermediary business' category, exempting middlemen from exchange registration requirements while imposing stricter centralized oversight.

The Financial Services Agency's updated framework aims to lower barriers for gaming firms and traditional investors eyeing digital assets. Companies like Mercari and SBI Securities have already signaled interest in the newly defined regulatory landscape.

Stablecoin regulations and emergency outflow controls FORM the backbone of the legislation, reflecting Japan's balancing act between innovation and risk mitigation. The changes position Tokyo as a cautiously progressive hub for institutional crypto adoption.