Japan’s Financial Services Agency launched its new Cryptocurrency and Stablecoin Division on August 7, 2026, consolidating oversight functions that were previously scattered across multiple FSA offices. The restructuring comes with heightened enforcement provisions, including penalties of up to 10 years in prison and fines of up to 10 million yen for unregistered crypto operators. The FSA is also preparing to explore crypto investment trusts and potentially crypto ETFs, alongside tax reforms that could introduce a flat 20% tax rate on crypto gains by 2028, down from the current rates reaching as high as 55%. Global exchange Bitget has already ceased operations in Japan amid regulatory pressure over its registration status.
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