The Financial Agency of Japan established a dedicated department for encryption and stabilization of currency

THE FINANCIAL SERVICES AUTHORITY OF JAPAN (FSA) HAS FORMALLY ESTABLISHED A DEDICATED DEPARTMENT FOR ENCRYPTION AND CURRENCY STABILIZATION. IT UPGRADES ENCRYPTION SUPERVISION FROM OFFICE LEVEL TO STAND-ALONE DEPARTMENT AND ESTABLISHES THREE SUB-UNITS RESPONSIBLE FOR EXCHANGE MONITORING, INNOVATION AND DIGITAL PAYMENTS. THIS INITIATIVE WAS A FOLLOW-UP TO THE REFORM OF THE JAPANESE FINANCIAL INSTRUMENTS AND TRANSACTIONS ACT (FIEA) BY RECLASSIFYING BITCOIN, TAIFUNG AND 103 OTHER TOKENS AS FINANCIAL INSTRUMENTS。