Japan is taking a proactive approach to regulate its burgeoning cryptocurrency market, aiming to significantly curtail insider trading and enhance transparency. The country’s Financial Instruments and Exchange Act (FIEA) is undergoing amendments, granting the Securities and Exchange Surveillance Commission (SESC) more authority to investigate suspicious activities and impose fines on violators. These measures, anticipated to be finalized in 2025, will align crypto oversight with existing securities market regulations. Notably, the draft emphasizes a prohibition on trading based on non-public information related to cryptocurrencies, marking a departure from the previous self-regulatory approach of the Japan Virtual Currency Exchange Association.