[Seminar] Understanding the Core of Cryptocurrency System Reform and Its Future Practical Impacts

Members of the LDP Web3 Working Group provide an explanation from a practical perspective - An overview of the Payment Services Act, Web3 proposals, and the Financial Services Agency's discussion paper, along with the future of institutional design.

On March 7, 2025, in response to the advancement of digitalization in finance, a bill to amend the Payment Services Act was submitted to the National Diet, aimed at ensuring user protection while promoting innovation. The bill includes (1) the establishment of a domestic asset holding order for cryptocurrency exchange operators and (2) the establishment of electronic payment methods and cryptocurrency service intermediaries. Additionally, in March 2025, the Liberal Democratic Party's Web3 Working Group published a proposal for revising the legal and tax systems related to cryptocurrencies, which have been regulated under the Payment Services Act, as cryptocurrencies have established their position as an asset class contributing to the asset formation of the public. Furthermore, on April 10 of the same year, the Financial Services Agency published a discussion paper titled "Verification of the Framework Related to Cryptocurrencies," which includes the regulation of cryptocurrencies under the Financial Instruments and Exchange Act instead of the Payment Services Act. [Seminar Details] ■ Date and Time: July 17 (Thursday) 16:30-18:30 (Doors open at 16:00) ■ Venue: JPI Conference Square ■ Speaker: Takashi Nagase, Partner and Attorney at Anderson Mori & Tomotsune, New York State Attorney *For more details, please refer to the PDF document or feel free to contact us.

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