Japan to Triple Prison Terms for Unregistered Crypto Sales
Japan will significantly increase penalties for unlicensed cryptocurrency sales, raising maximum prison terms to 10 years.Summary
Japan's Financial Services Agency (FSA) is set to dramatically increase penalties for unlicensed cryptocurrency sales, tripling the maximum prison term from 3 to 10 years. This move signals a shift in how Japan regulates crypto, treating it as a full-fledged financial product rather than a payment tool. Fines will also increase substantially. The changes stem from the recent SANAE TOKEN scandal and a rise in crypto-related complaints, particularly scams promising guaranteed returns. Alongside stricter penalties, Japan is introducing a more favorable tax regime for crypto investors, with a flat 20% tax rate replacing the current progressive system. This escalation in regulation aligns with broader trends in Asia, as countries like South Korea and Singapore also strengthen their crypto oversight.
(Source：BeInCrypto)