Japan approves bill to classify crypto as financial instruments
Japan tightens oversight with insider-trading bans and new disclosure rules as crypto markets attract more institutional participation.
The Japanese government amended the Financial Instruments and Exchange Act on Friday to classify crypto assets as financial instruments.
The amendment also bans insider trading and other activities that involve buying and selling based on undisclosed information, Nikkei reported.
The amended act will also now require cryptocurrency “issuers” to be more transparent and disclose information once a year.