The Japanese government has approved a proposal to amend the Payment Services Act, aiming to reform the regulatory framework for cryptocurrency brokers and stablecoins. The bill has been submitted to the parliament for deliberation and is expected to be passed in the coming days. According to information released by the Financial Services Agency (FSA), the new regulations will allow cryptocurrency companies to operate as "intermediary businesses," meaning brokers will no longer need to apply for the same license as cryptocurrency exchanges and wallet operators.
