Japan is preparing to issue regulations prohibiting and slashing insider trading in cryptocurrency, bringing this market closer to securities standards. According to Nikkei Asia, the Securities and Exchange Surveillance Commission (SESC) will have the authority to investigate and impose fines based on illicit profits, while also referring cases to criminal prosecution for serious violations.
Currently, there are no regulations on insider trading in the FIEA, while the Japan Virtual Asset Trading Association (JVCEA) lacks a monitoring system, making enhanced regulation necessary. The FSA plans to finalize the legal framework by the end of 2025 and present amendments to the FIEA next year.
This context coincides with the rise of cryptocurrency in Japan, where the number of users reached 7.88 million, accounting for 6.3% of the population. Potential Prime Minister Sanae Takaichi is expected to promote blockchain technology and a more cryptocurrency-friendly policy.
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