[Japan's Financial Services Agency Plans to Regulate Crypto Assets Under the Financial Instruments and Exchange Act] The Financial Services Agency of Japan has released a report outlining plans to shift the regulatory framework for crypto assets from the Payment Services Act to the Financial Instruments and Exchange Act. The new framework will require enhanced IEO disclosures, with project teams obligated to disclose their identities and token distribution models. Regulatory authorities will intensify efforts to crack down on unregistered platforms and prohibit insider trading. Additionally, the Japanese government is considering standardizing the tax rate on crypto trading profits to 20%. The Financial Services Agency remains cautious about granting licenses for overseas crypto ETF derivatives.