Japan approves bill to classify crypto as financial instruments

The Japanese Cabinet reclassified crypto as a financial instrument and will enforce insider trading bans and annual disclosure mandates for issuers.

The Japanese government amended the Financial Instruments and Exchange Act on Friday to classify crypto assets as financial instruments.

The amendment also bans insider trading and other activities that involve buying and selling based on undisclosed information, Nikkei reported.

The amended act will also now require cryptocurrency “issuers” to be more transparent and disclose information once a year.

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