Overview
- The plan would require third-party custody and trading system firms to register with the FSA before servicing crypto exchanges.
- Exchanges would be limited to using systems built by registered providers, extending accountability to outsourced operations.
- The push follows the 2024 DMM Bitcoin theft of ¥48.2 billion traced to vendor Ginco, which exposed oversight gaps in external systems.
- Under current rules, exchanges face strict asset-safeguarding standards while outside service vendors face none, according to regulators.
- The FSA plans to compile a formal report and seek changes to the Financial Instruments and Exchange Act in 2026 as it also advances JPYC approval and a multi-bank stablecoin pilot.