Japan’s Financial Services Agency Publishes Ordinances for 2025 Payment Services Act Revision

Japan’s Financial Services Agency (Japan financial regulator) also released the results of public comments on the draft rules, marking the next step in implementing the revised payments framework.

Summary

Japan’s Financial Services Agency (Japan financial regulator) said it has published cabinet and cabinet office ordinances related to the 2025 revision of the Payment Services Act. The announcement also included the results of public comments on the draft rules. The publication indicates that Japan is moving forward with the detailed implementation of its updated payments regime, a framework that is closely watched by the digital asset industry because the Payment Services Act has historically governed key areas such as crypto-asset exchange oversight and stablecoin-related payment rules in Japan.

Terms & Concepts
  • Payment Services Act: A Japanese law that sets rules for payment providers and has been used to regulate parts of the crypto-asset and stablecoin market.
  • Cabinet office ordinances: Detailed implementing rules issued under Japanese law to specify how broader legislation will be applied in practice.
  • Stablecoin: A cryptocurrency designed to maintain a stable value, often by being linked to a fiat currency such as the Japanese yen or U.S. dollar.