TechFlow news: According to the Nikkei, Japan's Financial Services Agency (FSA) announced on September 24 its plan to reform regulations related to crypto gaming, aiming to simplify corporate handling of in-game crypto assets. This regulatory overhaul could significantly lower the barrier for Japanese companies entering the blockchain gaming market, encouraging more domestic large enterprises to venture into blockchain games. The main components of the reform include:
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The FSA will establish a dedicated task force to revise the current Payment Services Act.
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Discussion on establishing a new system to streamline corporate management of crypto assets.
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Potential reduction in corporate burdens regarding compensation fund preparation and similar requirements.
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Expected to make operations such as purchasing in-game items with cryptocurrency more convenient.
On September 25, the FSA launched a committee under the Financial System Council to formally begin discussions on revising the Funds Settlement Act. Currently, companies wishing to offer virtual currency purchase functions within their own services must obtain licensing as exchange operators—a requirement that entails significant obligations including asset management and compensation fund preparation, imposing substantial burdens on businesses.
