The Financial Services Agency of Japan explains in detail the transition framework of encrypted assets to the "Gold Commercial Law" and simultaneously promotes three advanced stablecoin settlement projects

On April 23, at the 9th BCCCCollaborative Day held on April 21, Shigeru Shimizu, chief of the Risk Analysis Division of the Comprehensive Policy Bureau of the Financial Services Agency of Japan, revealed that the bill containing encrypted assets had been transferred from the Funds Settlement Act to the Financial Products Withdrawal Act (Financial Law) was submitted to the Special Parliament. The move aims to strengthen user protection. The core measures include establishing a new category of "crypto asset trading" based on whether issuers have implemented information disclosure, increasing penalties for unlicensed operators and strengthening investigations, and establishing new regulations and levies on insider trading. system. In addition, there are three ongoing empirical experiments in the "Settlement Elevation Project (PIP)" launched by the Financial Services Agency of Japan in November last year: First, the joint issuance of yen stablecoins, involving the participation of the three major banks and others, targeting cross-border settlement of large trading companies. Conduct efficiency verification; The second is on-chain securities settlement, which uses the transfer system to record the transfer of rights such as treasury bonds and stocks on the blockchain and synchronize it with current laws. The stable currency pays real spot silver for simultaneous delivery, aiming to achieve 7 x 24-hour continuous transaction settlement; The third is the transfer of Tokenized deposits between banks, building a transfer mechanism for different inter-bank tokenized deposits, and linking it with the Bank of Japan's "Central Bank Demand Deposits Tokenization Sandbox Project."