Japanese Financial Services Agency official Shimizu Shigeru stated at BCCC Collaborative Day that, as cryptocurrencies become more mainstream, authorities have submitted a bill to transition crypto regulation from the Payment Services Act to the Financial Instruments and Exchange Act. According to the introduction, the relevant bill classifies digital assets as financial products different from securities, with a focus on enhancing information disclosure, regulating industry operators, penalizing unlicensed operations, and regulating insider trading. Meanwhile, the Financial Services Agency is also advancing three payment modernization pilot projects, covering joint issuance of yen stablecoins, on-chain securities settlement, and interbank tokenized deposit transfers. (CoinPost)