Japanese Exchanges Respond to New Crypto Laws Now in Effect

Japanese cryptocurrency exchange bitbank has commenced efforts to align its operations with Japan’s updated Payment Services Act (PSA), which takes effect on May 1.

Atsushi Kuwabara from bitbank shared insights on how local exchanges and regulatory authorities are preparing for adjustments to cryptocurrency regulations that were initially proposed by the Japanese House of Representatives in 2019.

The recent changes reflect the ongoing evolution of the cryptocurrency landscape in Japan and highlight the importance of regulatory compliance for businesses operating in this sector.