🇯🇵Japan officially recognized cryptocurrencies as financial assets.

The country's parliament passed a law that moves crypto assets from the scope of the Payment Services Act into the category of financial assets.

Stricter rules will begin to apply to the crypto market, including a ban on insider trading and increased liability for the activities of unregistered market participants.

The new status of crypto assets may also create conditions for active participation by banks, funds, and other institutional investors in the industry.

The new regulations are expected to come into force within a year.

📰 @Cryptoz