Japan’s Financial Services Agency (FSA) has introduced a new regulatory framework that took effect on June 1, 2026. The new system creates a category called “electronic payment instrument and crypto asset service intermediary business,” allowing firms to legally provide limited crypto-related services under a lighter registration structure.
The move is aimed at improving access to regulated digital asset services while maintaining strict oversight of exchanges and stablecoin-related activity.
令和８年６月１日から、「電子決済手段・暗号資産サービス仲介業」に関する新しい制度が開始されました。電子決済手段・暗号資産サービス仲介業の登録等に関する情報を掲載しました。#金融庁https://t.co/JoMahKgFMU
— 金融庁 (@fsa_JAPAN) June 1, 2026
What is the new crypto intermediary system in Japan?
Under the new rules, companies can now operate as intermediaries for crypto and electronic payment assets without becoming full-scale crypto exchanges.
This applies to firms that act on behalf of licensed exchanges and handle only specific services, such as facilitating crypto trading or enabling exchanges of digital assets.
The FSA said the framework is designed to make compliance easier for smaller service providers while keeping customer protection standards in place.
Which activities are covered under the new rules?
The new license allows approved intermediaries to carry out limited tasks, including helping users buy or sell crypto assets or exchange one digital asset for another.
These services must still be performed under the supervision of a licensed crypto exchange or electronic payment provider.
The rules are defined under Japan’s updated Payment Services Act and related financial regulations, which were revised in 2025.
Why did Japan introduce this new category?
The FSA said the new system was created to support innovation in the digital asset sector while ensuring stronger oversight of risk and compliance.
It also aims to address growing demand for stablecoin services and crypto access without requiring every business to operate as a full exchange.
By introducing this middle layer, Japan hopes to encourage more participation in the crypto ecosystem while maintaining regulatory control over core financial risks.
Meanwhile, the FSA moved forward with plans to classify digital assets as “financial products” under the Financial Instruments and Exchange Act, putting crypto under the same regulatory framework as stocks and bonds.
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