Japan’s Financial Services Agency launched a registration system on June 1 for crypto-asset and electronic payment instrument intermediaries under the Payment Services Act, allowing registered firms to broker crypto-asset and fiat-backed stablecoin transactions on behalf of licensed operators. Separately, the agency said shifting cryptocurrency regulation under the Financial Instruments and Exchange Act would expand its enforcement powers, including against unregistered overseas operators, and make surcharges and injunction orders available for crypto-related violations.