Japan is considering reclassifying digital assets as financial products in response to investment scams in the country. The move would increase regulatory oversight for issuers and require greater disclosure of their identities and corporate status. Currently, digital assets in Japan are classified under the Payment Services Act, treating them more as a form of payment than a financial instrument or investment. If the proposed change is adopted, digital assets would fall under the Financial Instruments and Exchange Act, similar to company shares. The increased registration requirements may help reduce fraudulent schemes and "pump and dump" schemes in the crypto market.



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