Financial Services Agency Releases Summary of Opinions Received on the Review of the Crypto-Asset Related System
Tokyo, Japan – July 31, 2025 – The Financial Services Agency (FSA) of Japan announced today the public release of a comprehensive summary of the opinions received regarding its discussion paper titled “Review of the System for Crypto-Assets and Other Related Matters.” This important disclosure, made at 12:00 PM JST, marks a significant step in the FSA’s ongoing commitment to refining and adapting its regulatory framework for the rapidly evolving crypto-asset market.
The discussion paper, initially released for public comment, sought to gather diverse perspectives from industry participants, experts, and the broader public on the current state and future direction of regulations governing crypto-assets in Japan. The goal was to foster a robust dialogue and ensure that the regulatory environment remains appropriate, conducive to innovation, and protective of investors.
The recently published summary highlights the key themes and specific points raised by stakeholders. While a detailed analysis of each opinion is ongoing, the FSA’s release indicates that a wide spectrum of views were presented, covering critical aspects such as:
- Investor Protection: A significant portion of the feedback likely focused on measures to further strengthen investor protection, including enhanced disclosure requirements for crypto-asset exchanges, safeguards against market manipulation, and mechanisms for consumer recourse.
- Regulatory Scope and Clarity: Opinions may have addressed the definition and classification of various crypto-asset-related services and products, as well as the clarity and practicality of existing regulations. This could include discussions on stablecoins, decentralized finance (DeFi) protocols, and non-fungible tokens (NFTs).
- Technological Innovation: Stakeholders likely provided insights into how regulatory frameworks can foster innovation in the blockchain and crypto-asset space while managing associated risks. This might involve discussions on regulatory sandboxes, the application of distributed ledger technology (DLT), and the potential for new business models.
- Market Integrity and Financial System Stability: Concerns regarding the stability of the financial system and the integrity of crypto-asset markets were likely raised, prompting suggestions for enhanced oversight, anti-money laundering (AML) and combating the financing of terrorism (CFT) measures, and robust cybersecurity standards.
- International Harmonization: Given the global nature of crypto-assets, it is probable that feedback also touched upon the importance of aligning Japanese regulations with international standards and best practices to facilitate cross-border operations and maintain competitiveness.
The FSA’s proactive approach in soliciting and publicly sharing these opinions underscores its dedication to a transparent and collaborative regulatory process. The agency intends to carefully consider all feedback received as it proceeds with its comprehensive review of the crypto-asset system.
This initiative is crucial for Japan’s ambition to become a leader in the digital asset economy, ensuring that its regulatory framework remains both effective and forward-looking. The insights gathered will undoubtedly inform the FSA’s policy decisions and potential future amendments to existing laws and guidelines pertaining to crypto-assets.
The FSA encourages continued engagement from all stakeholders as it progresses through this important review period. Further updates on the progress of the system review are expected to be communicated in due course.
「暗号資産に関連する制度のあり方等の検証」（ディスカッション・ペーパー）に寄せられた御意見の概要について公表しました。
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金融庁 published ‘「暗号資産に関連する制度のあり方等の検証」（ディスカッション・ペーパー）に寄せられた御意見の概要について公表しました。’ at 2025-07-31 12:00. Please write a detailed article about this news in a polite tone with relevant information. Please reply in English with the article only.