اليابان تعيد تصنيف الائتمان كأداة مالية، 10 عامًا في السجن لشركات التجزئة غير المسجلة

Japan’s lower house just passed a bill that reclassifies crypto as a financial instrument, slapping it with stock-market-level insider trading bans and 10-year prison sentences for unregistered operators. The move shifts crypto regulation from the Payment Services Act to the Financial Instruments and Exchange Act, treating tokens more like equities than payment methods.

14 Million Accounts Drive Regulatory Shift

Japan now has over 14 million open crypto accounts, according to data the Financial Services Agency (FSA) cited in its announcement. Roughly 70% of those accounts belong to people earning under 7 million yen ($43,600) a year. Low- and middle-income retail users are the engine, not institutions.

The FSA explicitly attributed the bill to crypto becoming a mainstream investment asset. The new rules, expected to take effect in 2027, classify crypto as financial instruments, which means lower taxes compared to the previous payment-based regime. It also opens the door for crypto exchange-traded funds. The ruling Liberal Democratic Party said ETFs “would provide investors with easy-to-understand ways of investment.”

Insider Trading Bans and 10-Year Prison Terms

The bill introduces an insider trading ban that works exactly like the stock market. Company insiders and exchange workers cannot buy or sell tokens if they know unpublicized “material facts”—including an exchange planning to add or drop a coin, a company going out of business, or large trades. Developers must also post clear details on technology, supply, and business finances under strict “information public disclosure rules.”

If a company raises capital through a token but skips an independent audit, regular investors face a strict investment cap of 2 million yen ($12,560). The government is also getting much tougher on bad actors. The maximum prison sentence for running an unregistered crypto business jumps from three years to 10 years. Fines climb to 10 million yen ($62,800). Japan’s securities watchdog gets clear powers to conduct criminal investigations and ask courts to freeze funds.

For engineers and operators who have watched jurisdictions oscillate between vague guidance and outright bans, Japan just drew a bright line. The framework is designed to “improve user protection while remaining mindful of promoting innovation,” the FSA said. With lower taxes, ETF-ready classification, and criminal penalties that match securities fraud, Japan is betting that clear rules will attract the builders who fled regulatory gray zones elsewhere.

Source: Japan's parliament poised to pass sweeping bill to regulate crypto like stocks
Domain: coindesk.com