PANews reported on March 16 that, according to the Nikkei, Japan's Financial Services Agency (FSA) plans to significantly increase penalties for unregistered cryptocurrency businesses. The maximum imprisonment sentence for unregistered sale of crypto assets will be increased from three years to up to ten years, and the maximum fine will be raised from 3 million yen to 10 million yen. The regulator also intends to revise the Financial Instruments and Exchange Act and other laws to transfer cryptocurrency regulation from the Payment Services Act to the Financial Instruments and Exchange Act framework, thereby strengthening the oversight of cryptocurrency trading platforms and emphasizing investor protection.


