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Update on Regulations on Cryptocurrency in Japan

Update on Regulations on Cryptocurrency in Japan
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Update On Japanese Payment Service Regulations - Draft Amendments Have Been Published For The Regulations And Guidelines Implementing Amendments To The Payment Services Act - Finance and Banking

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I. On June 5, 2020, the Diet of Japan adopted several amendments
to the Payment Services Act (Act No. 59 of June 24, 2009) (the
PSA ). The amendments include reforms of the
licensing/registration system for fund transfer service providers,
the introduction of several categories of fund transfer services,
and certain enhancements to regulations on issuers of prepaid
payment instruments. For a summary of these statutory amendments,
please see our client alert dated July 15, 2020
1. For
the purposes of this article, it is expected that the reader has a
general understanding of the current contents of the PSA. ....

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Update On Japanese Payment Service Regulations - Draft Amendments Have Been Published For The Regulations And Guidelines Implementing Amendments To The Payment Services Act | Morrison & Foerster LLP

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I. On June 5, 2020, the Diet of Japan adopted several amendments to the Payment Services Act (Act No. 59 of June 24, 2009) (the “PSA”). The amendments include reforms of the licensing/registration system for fund transfer service providers, the introduction of several categories of fund transfer services, and certain enhancements to regulations on issuers of prepaid payment instruments. For a summary of these statutory amendments, please see our client alert dated July 15, 2020[1]. For the purposes of this article, it is expected that the reader has a general understanding of the current contents of the PSA. ....

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