Japan’s Financial Services Agency (FSA) announced revised cabinet orders and ministerial ordinances implementing the amended Payment Services Act, effective June 1.

According to NADA NEWS, Japan’s Financial Services Agency (FSA) announced on the 22nd the Cabinet Office Ordinance and the FSA Ordinance related to the 2025 amendment to the Payment Services Act, along with the results of the public consultation. The new rules will take effect on June 1. This regulatory enhancement covers electronic payment methods—including stablecoins—cryptocurrency asset service providers, fund transfer businesses, and cross-border collection services. Specifically, the underlying assets eligible for “electronic payment instruments based on specified trust beneficiary rights,” their maximum allocation ratios, and requirements to prevent principal loss have been clearly defined. Additionally, detailed rules have been established for registration applications, user disclosures, prohibited activities, user protection, and bookkeeping management for both new electronic payment instruments and cryptocurrency asset service providers.