The Japan Financial Services Agency has launched a new registration regime for electronic payment instruments and crypto asset service intermediaries under the Payment Services Act, effective June 1, 2026. Businesses entrusted by a registered electronic payment instruments business operator or a crypto asset exchange operator can now conduct specified intermediary activities in Japan by registering as an intermediary. The regime applies where a firm carries out only one category of activity for an affiliated operator. Those activities are either the purchase and sale of electronic payment instruments, including intermediation of exchanges with other electronic payment instruments, or the intermediation of purchases, sales, and exchanges of crypto assets with other crypto assets. The agency has published an overview of the system, the relevant registration and notification forms, and related legal references, and it said applications and notifications must state the legal provisions on which they are based. In this context, electronic payment instruments business operators include firms registered to broker and manage stablecoins linked to the value of legal tender.
Japan Financial Services Agency2026-06-01
Japan Financial Services Agency launches registration regime for electronic payment instruments and crypto asset service intermediaries
The Japan Financial Services Agency has introduced a new registration regime under the Payment Services Act for intermediaries of electronic payment instruments and crypto asset services, effective June 1, 2026. Firms entrusted by a registered electronic payment instruments business operator, including stablecoin brokers and managers, or a crypto asset exchange operator may conduct specified intermediary activities in Japan by registering, provided they perform only one defined category of activity.