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Japan appears to be moving to bring cryptocurrencies deeper into its traditional market rulebook, signaling that regulators want digital assets handled through established exchanges and securities-style oversight rather than a parallel system.
The direction was underscored on Monday by Finance Minister and Financial Services Minister Satsuki Katayama, who publicly <a href="https://www.youtube.com/watch?v=-ZkuUIUTKzE" rel="noopener noreferrer nofollow" target="_blank">backed</a> traditional securities exchanges and market infrastructure as the primary gateway for blockchain-based assets.&nbsp;
Speaking at the Tokyo Stock Exchange’s New Year opening ceremony, Katayama framed 2026 as Japan’s first year of full-scale digitalization. Her remarks echoed a broader regulatory shift that has been steadily aligning crypto with traditional capital markets.&nbsp;
“To ensure citizens benefit from digital and blockchain-based assets, the role of exchanges and market infrastructure will be essential,” Katayama said during the ceremony, in remarks delivered in Japanese and machine-translated into English, pledging to support stock exchanges in “advancing cutting-edge, accessible, and efficient markets.”
Katayama’s comments come as Japan continues to tighten how crypto is accessed domestically, a process that includes stricter registration rules, enforcement against unregistered platforms and emphasis on regulated rails.&nbsp;
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 <img src="https://s3.cointelegraph.com/uploads/2026-01/019b8ded-4959-7cec-bf83-d7061a207ccd.jpg" title="" alt="Japan’s finance minister backs exchanges as gateway for digital assets">
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 Finance Minister Satsuki Katayama speaking at the Tokyo Stock Exchange’s New Year opening ceremony. Source: <a href="https://www.youtube.com/watch?v=-ZkuUIUTKzE" rel="noopener noreferrer nofollow" target="_blank">JPX</a>
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<h2 id="from-payments-law-to-securities-regulation">From payments law to securities regulation</h2>
Katayama’s remarks build on regulatory groundwork already underway. On Dec. 10, 2025, Japan’s Financial Services Agency <a href="https://cointelegraph.com/news/japan-rewrites-crypto-rules-investment-not-payment-tool" rel="noopener noreferrer nofollow">outlined plans to move crypto oversight</a> from the Payment Services Act to the Financial Instruments and Exchange Act, treating crypto assets as financial products rather than payment tools.&nbsp;
Under the framework, crypto issuance and trading would fall under securities-style regulations, including stronger disclosure mandates, insider trading prohibitions and expanded enforcement against unregistered overseas platforms.&nbsp;
Tax policy is also moving in the same direction. On Dec. 2, the Japanese government and ruling coalition <a href="https://cointelegraph.com/news/japan-gov-backs-flat-tax-crypto-profits" rel="noopener noreferrer nofollow">backed plans to introduce a flat 20% tax</a> on crypto profits.
This aligns crypto assets with stocks and investment funds and replaces a system that could scale tax as high as 55%. The reform is expected to be embedded within broader securities law amendments.
The legal and fiscal changes suggest a deliberate effort to standardize crypto’s integration within the existing Japanese financial system rather than regulate it separately.&nbsp;
Related: <a href="https://cointelegraph.com/news/metaplanet-edge-us-dats-jpy-weakness" rel="noopener noreferrer nofollow">Metaplanet has key advantage over US-based Bitcoin treasuries: Analyst</a>
<h2 id="exchange-led-access-takes-shape">Exchange-led access takes shape</h2>
The policy direction has already translated into enforcement. On Feb. 7, 2025, regulators asked Apple and Google to <a href="https://cointelegraph.com/news/japan-removes-unregistered-crypto-exchange-apps" rel="noopener noreferrer nofollow">remove apps linked to unregistered crypto exchanges</a>, including Bybit, MEXC and KuCoin.
This reinforced that access to Japanese users would be limited to platforms compliant with local regulations.&nbsp;
The regulatory pressure has already reshaped market participation. On Dec. 23, Bybit said it would begin <a href="https://cointelegraph.com/news/bybit-discontinue-services-japanese-residents-citing-regulations" rel="noopener noreferrer nofollow">phasing out services for Japanese residents in 2026</a>, citing regulatory requirements and registration rules.&nbsp;
While other players are moving toward the exit, Japan’s regulators have <a href="https://cointelegraph.com/news/japan-fsa-backs-banks-joint-yen-stablecoin-rollout" rel="noopener noreferrer nofollow">backed bank-led stablecoin initiatives</a> and explored frameworks that would allow regulated institutions to play a bigger role in crypto asset markets.&nbsp;
Magazine: <a href="https://cointelegraph.com/magazine/asia-crypto-bitcoin-treasuries-stablecoins-asia-express-2025-review/" rel="noopener noreferrer nofollow">Bitcoin treasury crackdown, Asia embraces stablecoins: Asia Express 2025</a>

Japan’s finance minister backs exchanges as gateway for digital assets

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