TechFlow News, May 23: According to NADA NEWS, Japan’s Financial Services Agency (FSA) announced on May 22 the cabinet orders, Cabinet Office ordinances, and results of the public consultation related to the 2025 amendment to the Payment Services Act. The new rules will take effect on June 1.
This regulatory enhancement covers electronic payment methods—including stablecoins—cryptocurrency service providers, fund transfer services, and cross-border collection services. Specifically, the underlying assets eligible for “electronic payment instruments backed by specific trust beneficiary rights,” their maximum allocation ratios, and requirements to prevent principal loss have been clarified. Additionally, detailed rules have been established for registration applications, user disclosures, prohibited activities, user protection, and recordkeeping for both electronic payment instrument providers and cryptocurrency service providers.
