Crypto licence in Japan (FSA registration)

A crypto exchange licence in Japan is a registration as a crypto-asset exchange service provider with the Financial Services Agency (FSA) under the Payment Services Act. The applicant must be a Japanese stock company (kabushiki kaisha) or a foreign exchange operator with an office and a resident representative in Japan, with capital of at least ¥10 million and non-negative net assets, systems for the proper conduct of the business and for compliance with the Act, and segregation of customer assets. In July 2026 Japan enacted a law that moves crypto trading from the Payment Services Act to the Financial Instruments and Exchange Act, with the crypto provisions taking effect by July 2027.

In short:

• Regulator: FSA; the register of providers is kept at the Local Finance Bureau where the head office is located.
• Legal form: kabushiki kaisha, or a foreign crypto-asset exchange service provider with an office in Japan and a representative resident in Japan (Payment Services Act, Art. 63-5).
• Money: capital of at least ¥10,000,000 and net assets that are not negative (Cabinet Office Order on Crypto-Asset Exchange Service Providers, Art. 9).
• Self-regulation: membership in the certified association JVCEA, or internal rules equivalent to its rules.
• Customer assets: customer money in trust with a trust company or a bank licensed for trust business, customer crypto segregated, and a regular audit by a certified public accountant or audit firm (Art. 63-11).
• Reform: Act No. 64 of 2026, promulgated on 23 July 2026, brings crypto trading under the Financial Instruments and Exchange Act.

Who needs to register

Under Article 63-2 of the Payment Services Act, nobody may carry on crypto-asset exchange services in Japan without registration. Under Article 2 of the Act these services are, when carried on as a business: buying, selling or exchanging crypto-assets; acting as an intermediary, broker or agent in such trades; managing customers' money in connection with them; and managing crypto-assets on behalf of others. The FSA publishes lists of unregistered domestic and overseas operators to which it has issued warning letters.

Requirements for registration

• a stock company (kabushiki kaisha), or a foreign crypto-asset exchange service provider with an office in Japan and a representative resident in Japan;
• capital of at least ¥10 million and non-negative net assets;
• systems that allow the business to be carried out properly and reliably, and systems for compliance with the Act;
• membership in the certified association (JVCEA) or internal rules equivalent to its rules, with systems to follow them;
• directors and officers who meet the fitness criteria of the Act;
• segregated management of customer money and crypto-assets and an external audit of that management.

The application lists the trade name, capital, offices, directors, the crypto-assets to be handled, the content and methods of the business and any outsourcing, and attaches financial documents and documents on the internal control framework (Art. 63-3).

What changes with the 2026 reform

The Diet passed the amendment to the Financial Instruments and Exchange Act and the Payment Services Act on 15 July 2026; it was promulgated on 23 July 2026 as Act No. 64. Buying and selling crypto-assets as a business becomes part of the financial instruments business, insider trading rules are introduced for crypto-assets, and the crypto provisions are removed from the Payment Services Act. These parts take effect on a date set by Cabinet Order within one year of promulgation. A project that applies now prepares for registration under the current Act and plans the transition to the new regime.

How Blocons works on a Japan registration

1. Free review of the business model: which services fall under crypto-asset exchange services and which crypto-assets you plan to handle.
2. Structure: a kabushiki kaisha or a branch of a foreign operator, capital plan, management and the representative in Japan.
3. The document pack: business plan, internal rules, AML/CFT and sanctions policies, segregation of customer assets, IT and security controls.
4. Work with the FSA and the Local Finance Bureau through the review, and preparation for the requirements of the new regime.

Our fee is quoted in writing after the review. Request a free review. Other markets: crypto licences by country, Singapore.

FAQ

Who issues crypto exchange licences in Japan?

The registration is granted under the Payment Services Act; the FSA supervises crypto-asset exchange service providers, and the register is kept at the Local Finance Bureaus.

What is the minimum capital for a crypto exchange in Japan?

¥10 million, with net assets that are not negative. A provider that manages customer crypto must also hold net assets at least equal to the value of its performance-guarantee crypto-assets.

Can a foreign company register in Japan?

Only as a foreign crypto-asset exchange service provider, that is, a company registered for the same business under the equivalent law of its home country, with an office in Japan and a representative who resides in Japan (Arts. 2, 63-5).

Is JVCEA membership mandatory?

The Act refuses registration to a company that neither joins the certified association nor adopts equivalent internal rules with systems to follow them.

Sources

• Payment Services Act (資金決済に関する法律), Arts. 63-2, 63-3, 63-5, 63-11, e-Gov
• Cabinet Office Order on Crypto-Asset Exchange Service Providers, Arts. 8–9, e-Gov
• House of Councillors: bill No. 57 (221st Diet), passage and promulgation as Act No. 64
• JVCEA, about the association
• FSA: register of crypto-asset exchange service providers and warning letters to unregistered operators

Facts checked against the sources above on 11 October 2026. This page is general information about the regulatory framework; requirements for a specific business depend on its model.