Japan
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FSA Council Sets Up Working Groups on Growth Financing and Insurance; Member Raises On-Chain Finance
- The FSA will launch a Fund Supply WG (chaired by Kazuhiko Yamamoto) to ease uniform Money Lending Business Act restrictions, including rules on foreign banks without a Japan presence joining syndicated loans and reviewing the 1 billion yen minimum capital requirement under the Nonbank Corporate Bond Act.
- An Insurance System WG, chaired by Doshisha University professor Hiroshi Suzaki, will examine creating a reinsurance captive system and reforming the life insurance safety net.
- Committee member Kono (Japan Consumer Association) called for mid- to long-term study of "on-chain finance" amid rising media attention, and called last year's FIEA amendment bringing crypto assets under securities regulation a major step forward, though crypto and stablecoins were not formal topics at this meeting.