The Japan Financial Services Agency has finalized amendments to the Cabinet Office Ordinance on Electronic Payment Instruments and related administrative guidelines to broaden the foreign trust beneficiary rights that can be treated as electronic payment instruments in Japan. Trust beneficiary rights created under foreign laws and regulations that ensure equivalence with Japan's legal system for electronic payment instruments will be brought within that regime, and the same category will be excluded from treatment as securities under the Financial Instruments and Exchange Act. The changes also clarify that business operators' assessment of whether foreign electronic payment instruments can be handled should be based on whether the relevant foreign legal framework is equivalent to Japan's framework for electronic payment instruments. The agency published a summary of the 16 comments received during the consultation and its responses alongside the final ordinance and revised administrative guidelines. The ordinance was promulgated and, together with the related administrative guidelines, will take effect and apply from 1 June 2026.
Japan Financial Services Agency2026-05-19
Japan Financial Services Agency expands qualifying foreign trust beneficiary rights as electronic payment instruments and excludes them from securities scope
The Japan Financial Services Agency has finalized amendments to the Cabinet Office Ordinance on Electronic Payment Instruments and related guidelines to expand foreign trust beneficiary rights qualifying as electronic payment instruments and exclude them from treatment as securities under the Financial Instruments and Exchange Act. The amendments clarify that business operators should assess foreign instruments by reference to the equivalence of the foreign legal framework with Japan’s regime, and the agency published a summary of consultation comments and responses.