Japan's FSA proposes integrating crypto into securities framework

Japan's Financial Services Agency (FSA) has proposed regulating cryptocurrencies under laws governing securities and financial investment products, rather than the current Payment Services Act, Cointelegraph reported. The measure aims to strengthen investor protection and integrate digital assets into the national securities framework. The FSA noted in a report that many issues in the crypto market resemble those in traditional financial markets, suggesting that applying securities regulations would be appropriate. The report, described as an unofficial document, was submitted to the Financial System Council, an advisory body to the FSA commissioner. The Japanese government will review potential legal amendments based on its findings.