Financial Instruments and Exchange Act

When a person has, in violation of Article 171-7, paragraph (1) or (3), made a purchase and sale, etc. of subject specified cryptoassets, etc., the Prime Minister must, in accordance with the procedures prescribed in the following Section, order that person to pay to the national treasury an administrative monetary penalty in an amount equivalent to the amount prescribed in each of the following items in accordance with the category of the cases set forth in those items (or, if the case falls under two or more of the following items, the sum of the amounts prescribed in those two or more items) (or, if the purchase and sale, etc. was made in the name of another person, an amount equivalent to 1.5 times that amount).

the person violates Article 171-7, paragraph (1) or (3) in making a sale, etc. of cryptoassets, etc. on their own account (limited to one made within six months prior to the date on which the material fact about specified cryptoassets, etc. prescribed in paragraph (1) of that Article is publicized (excluding, for the date of the publicization, one made after the publicization); hereinafter the same applies in this item): the amount obtained by deducting the amount set forth in (b) below from the amount set forth in (a) below:

for that sale, etc. of cryptoassets, etc., the amount obtained by multiplying the price at which that sale, etc. of cryptoassets, etc. was made by its quantity;

for that sale, etc. of cryptoassets, etc., the amount obtained by multiplying the lowest price in the two weeks after the disclosure of the material fact about specified cryptoassets, etc. by the quantity of that sale, etc. of cryptoassets, etc.;

the person violates Article 171-7, paragraph (1) or (3) in making a purchase, etc. of cryptoassets, etc. on their own account (limited to one made within six months prior to the date on which the material fact about specified cryptoassets, etc. prescribed in paragraph (1) of that Article is publicized (excluding, for the date of the publicization, one made after the publicization); hereinafter the same applies in this item): the amount obtained by deducting the amount set forth in (b) below from the amount set forth in (a) below:

for that purchase, etc. of cryptoassets, etc., the amount obtained by multiplying the highest price in the two weeks after the disclosure of the material fact about specified cryptoassets, etc. by the quantity of that purchase, etc. of cryptoassets, etc.;

for that purchase, etc. of cryptoassets, etc., the amount obtained by multiplying the price at which that purchase, etc. of cryptoassets, etc. was made by its quantity;

a person that has made a purchase and sale, etc. of subject specified cryptoassets, etc. makes that purchase and sale, etc. on the account of a person other than themselves (excluding the case where an officer, etc. set forth in paragraph (12) makes the purchase and sale, etc. set forth in that paragraph): the amount prescribed in (a) or (b) below in accordance with the category of the person that has made that purchase and sale, etc. as set forth in (a) or (b):

a person that has made the purchase and sale, etc. as an investment of property subject to investment: the amount obtained by multiplying by three the amount specified by Cabinet Office Order as an amount equivalent to the consideration for investment of the property subject to investment specified by Cabinet Office Order in the month that includes the day on which the purchase and sale, etc. was made (if the purchase and sale, etc. was made over two or more months, the last of those months); or

a person other than the person set forth in (a): the amount specified by Cabinet Office Order as the amount of the fee, remuneration or other consideration for the purchase and sale, etc.

When a person has, in violation of Article 171-8, paragraph (1) or (3), made a purchase and sale, etc. of subject cryptoassets, etc., the Prime Minister must, in accordance with the procedures prescribed in the following Section, order that person to pay to the national treasury an administrative monetary penalty in an amount equivalent to the amount prescribed in each of the following items in accordance with the category of the cases set forth in those items (or, if the case falls under two or more of the following items, the sum of the amounts prescribed in those two or more items) (or, if the purchase and sale, etc. was made in the name of another person, an amount equivalent to 1.5 times that amount).

the person violates Article 171-8, paragraph (1) or (3) in making a sale, etc. of cryptoassets, etc. on their own account (limited to one made within six months prior to the date on which the material fact concerning the handling, etc. of cryptoassets prescribed in paragraph (1) of that Article is publicized (excluding, for the date of the publicization, one made after the publicization); hereinafter the same applies in this item): the amount obtained by deducting the amount set forth in (b) below from the amount set forth in (a) below:

for that sale, etc. of cryptoassets, etc., the amount obtained by multiplying the price at which that sale, etc. of cryptoassets, etc. was made by its quantity;

for that sale, etc. of cryptoassets, etc., the amount obtained by multiplying the lowest price in the two weeks after the disclosure of the material fact concerning the handling, etc. of cryptoassets by the quantity of that sale, etc. of cryptoassets, etc.;

the person violates Article 171-8, paragraph (1) or (3) in making a purchase, etc. of cryptoassets, etc. on their own account (limited to one made within six months prior to the date on which the material fact concerning the handling, etc. of cryptoassets prescribed in paragraph (1) of that Article is publicized (excluding, for the date of the publicization, one made after the publicization); hereinafter the same applies in this item): the amount obtained by deducting the amount set forth in (b) below from the amount set forth in (a) below:

for that purchase, etc. of cryptoassets, etc., the amount obtained by multiplying the highest price in the two weeks after the disclosure of the material fact concerning the handling, etc. of cryptoassets by the quantity of that purchase, etc. of cryptoassets, etc.;

for that purchase, etc. of cryptoassets, etc., the amount obtained by multiplying the price at which that purchase, etc. of cryptoassets, etc. was made by its quantity;

a person that has made a purchase and sale, etc. of subject cryptoassets, etc. makes that purchase and sale, etc. on the account of a person other than themselves (excluding the case where an officer, etc. set forth in paragraph (13) makes the purchase and sale, etc. set forth in that paragraph): the amount prescribed in (a) or (b) below in accordance with the category of the person that has made that purchase and sale, etc. as set forth in (a) or (b):

a person that has made the purchase and sale, etc. as an investment of property subject to investment: the amount obtained by multiplying by three the amount specified by Cabinet Office Order as an amount equivalent to the consideration for investment of the property subject to investment specified by Cabinet Office Order in the month that includes the day on which the purchase and sale, etc. was made (if the purchase and sale, etc. was made over two or more months, the last of those months); or

a person other than the person set forth in (a): the amount specified by Cabinet Office Order as the amount of the fee, remuneration or other consideration for the purchase and sale, etc.

When a person has, in violation of Article 171-9, paragraph (1) or (3), made a sale, etc. of cryptoassets, etc. or a purchase, etc. of cryptoassets, etc. prescribed in paragraph (1) of that Article, the Prime Minister must, in accordance with the procedures prescribed in the following Section, order that person to pay to the national treasury an administrative monetary penalty in an amount equivalent to the amount prescribed in each of the following items in accordance with the category of the cases set forth in those items (or, if the case falls under two or more of the following items, the sum of the amounts prescribed in those two or more items) (or, if the sale, etc. of cryptoassets, etc. or the purchase, etc. of cryptoassets, etc. was made in the name of another person, an amount equivalent to 1.5 times that amount).

the person violates Article 171-9, paragraph (1) or (3) in making a sale, etc. of cryptoassets, etc. on their own account (limited to one made within six months prior to the date on which the fact concerning the implementation of a large-volume sale or large-volume purchase, or the fact concerning the suspension of a large-volume sale or large-volume purchase, prescribed in paragraph (1) of that Article is disclosed (excluding, for the date of the disclosure, one made after the disclosure); hereinafter the same applies in this item): the amount obtained by deducting the amount set forth in (b) below from the amount set forth in (a) below:

for that sale, etc. of cryptoassets, etc., the amount obtained by multiplying the price at which that sale, etc. of cryptoassets, etc. was made by its quantity;

for that sale, etc. of cryptoassets, etc., the amount obtained by multiplying the lowest price during the two weeks after the disclosure of the fact concerning the implementation of a large-volume sale or large-volume purchase, or of the fact concerning the suspension of a large-volume sale or large-volume purchase, by the quantity of that sale, etc. of cryptoassets, etc.;

the person violates Article 171-9, paragraph (1) or (3) in making a purchase, etc. of cryptoassets, etc. on their own account (limited to one made within six months prior to the date on which the fact concerning the implementation of a large-volume sale or large-volume purchase, or the fact concerning the suspension of a large-volume sale or large-volume purchase, prescribed in paragraph (1) of that Article is disclosed (excluding, for the date of the disclosure, one made after the disclosure); hereinafter the same applies in this item): the amount obtained by deducting the amount set forth in (b) below from the amount set forth in (a) below:

for that purchase, etc. of cryptoassets, etc., the amount obtained by multiplying the highest price during the two weeks after the disclosure of the fact concerning the implementation of a large-volume sale or large-volume purchase, or of the fact concerning the suspension of a large-volume sale or large-volume purchase, by the quantity of that purchase, etc. of cryptoassets, etc.;

for that purchase, etc. of cryptoassets, etc., the amount obtained by multiplying the price at which that purchase, etc. of cryptoassets, etc. was made by its quantity;

in the case where a person that has made the sale, etc. related to cryptoassets, etc. or the purchase, etc. related to cryptoassets, etc. prescribed in Article 171-9, paragraph (1) has made that sale, etc. related to cryptoassets, etc. or purchase, etc. related to cryptoassets, etc. on the account of a person other than oneself: the amount specified in (a) or (b), according to the category set forth in (a) or (b) to which the person that made that sale, etc. related to cryptoassets, etc. or purchase, etc. related to cryptoassets, etc. belongs;

a person that has conducted the sale, etc. related to cryptoassets, etc. or the purchase, etc. related to cryptoassets, etc. as an investment of property subject to investment: the amount obtained by multiplying by three, the amount specified by Cabinet Office Order as an amount equivalent to the consideration for investment of the property subject to investment which is specified by Cabinet Office Order in the month that includes the day on which that sale, etc. related to cryptoassets, etc. or purchase, etc. related to cryptoassets, etc. was made (if that sale, etc. related to cryptoassets, etc. or purchase, etc. related to cryptoassets, etc. has been conducted over two or more months, the last month of those months); or

a person other than the person set forth in (a): the amount specified by Cabinet Office Order as the amount of fees, remuneration or other consideration for that sale, etc. related to cryptoassets, etc. or purchase, etc. related to cryptoassets, etc.

The term "sale, etc. of cryptoassets, etc." as used in the preceding three paragraphs means the sale of cryptoassets, the sale of securities set forth in Article 2, paragraph (1), item (xix) that represent options relating to cryptoassets, a transaction set forth in Article 2, paragraph (21), item (ii) (limited to a transaction in which the relevant person is the party to pay money if the actual figure exceeds the agreed figure), a transaction set forth in item (iii) of that paragraph (limited to a transaction in which the relevant person is the party to grant the option), or any other transaction specified by Cabinet Order.

The term "purchase, etc. of cryptoassets, etc." as used in paragraphs (1) through (3) means the purchase of cryptoassets, the purchase of securities set forth in Article 2, paragraph (1), item (xix) that represent options relating to cryptoassets, a transaction set forth in Article 2, paragraph (21), item (ii) (limited to a transaction in which the relevant person is the party to receive money if the actual figure exceeds the agreed figure), a transaction set forth in item (iii) of that paragraph (limited to a transaction in which the relevant person is the party to acquire the option), or any other transaction specified by Cabinet Order.

The term "lowest price in the two weeks after the disclosure of the material fact about specified cryptoassets, etc." as used in paragraph (1), item (i), (b) means the lowest price from among the lowest prices prescribed in Article 43-9, Article 67-19 or Article 130 on each day in the period from the day on which the material fact about specified cryptoassets, etc. prescribed in Article 171-7, paragraph (1) is disclosed until the day on which two weeks have elapsed counting from the day following that day (if there is no such price, the amount specified by Cabinet Office Order as being equivalent to it, and for the day on which that material fact is disclosed, the amount specified by Cabinet Office Order).

The term "highest price in the two weeks after the disclosure of the material fact about specified cryptoassets, etc." as used in paragraph (1), item (ii), (a) means the highest price from among the highest prices prescribed in Article 43-9, Article 67-19 or Article 130 on each day in the period from the day on which the material fact about specified cryptoassets, etc. prescribed in Article 171-7, paragraph (1) is disclosed until the day on which two weeks have elapsed counting from the day following that day (if there is no such price, the amount specified by Cabinet Office Order as being equivalent to it, and for the day on which that material fact is disclosed, the amount specified by Cabinet Office Order).

The term "lowest price in the two weeks after the disclosure of the material fact concerning the handling, etc. of cryptoassets" as used in paragraph (2), item (i), (b) means the lowest price from among the lowest prices prescribed in Article 43-9, Article 67-19 or Article 130 on each day in the period from the day on which the material fact concerning the handling, etc. of cryptoassets prescribed in Article 171-8, paragraph (1) is disclosed until the day on which two weeks have elapsed counting from the day following that day (if there is no such price, the amount specified by Cabinet Office Order as being equivalent to it, and for the day on which that material fact is disclosed, the amount specified by Cabinet Office Order).

The term "highest price in the two weeks after the disclosure of the material fact concerning the handling, etc. of cryptoassets" as used in paragraph (2), item (ii), (a) means the highest price from among the highest prices prescribed in Article 43-9, Article 67-19 or Article 130 on each day in the period from the day on which the material fact concerning the handling, etc. of cryptoassets prescribed in Article 171-8, paragraph (1) is disclosed until the day on which two weeks have elapsed counting from the day following that day (if there is no such price, the amount specified by Cabinet Office Order as being equivalent to it, and for the day on which that material fact is disclosed, the amount specified by Cabinet Office Order).

The term "lowest price in the two weeks after the disclosure of the fact concerning the implementation of a large-volume sale or large-volume purchase or the fact concerning the suspension of a large-volume sale or large-volume purchase" as used in paragraph (3), item (i), (b) means the lowest price from among the lowest prices prescribed in Article 43-9, Article 67-19 or Article 130 on each day in the period from the day on which the fact concerning the implementation of a large-volume sale or large-volume purchase or the fact concerning the suspension of a large-volume sale or large-volume purchase prescribed in Article 171-9, paragraph (1) is disclosed until the day on which two weeks have elapsed counting from the day following that day (if there is no such price, the amount specified by Cabinet Office Order as being equivalent to it, and for the day on which that fact is disclosed, the amount specified by Cabinet Office Order).

The term "highest price in the two weeks after the disclosure of the fact concerning the implementation of a large-volume sale or large-volume purchase or the fact concerning the suspension of a large-volume sale or large-volume purchase" as used in paragraph (3), item (ii), (a) means the highest price from among the highest prices prescribed in Article 43-9, Article 67-19 or Article 130 on each day in the period from the day on which the fact concerning the implementation of a large-volume sale or large-volume purchase or the fact concerning the suspension of a large-volume sale or large-volume purchase prescribed in Article 171-9, paragraph (1) is disclosed until the day on which two weeks have elapsed counting from the day following that day (if there is no such price, the amount specified by Cabinet Office Order as being equivalent to it, and for the day on which that fact is disclosed, the amount specified by Cabinet Office Order).

The provisions of paragraph (1) (excluding item (iii)) apply mutatis mutandis to the case where there is an officer, etc. of a specified cryptoasset issuer (including the parent company prescribed in Article 171-7, paragraph (1), item (i); the same applies in paragraph (19) of the following Article) prescribed in Article 166, paragraph (1), item (i) who has conducted purchase and sale, etc. of subject specified cryptoassets, etc. on the account of that specified cryptoasset issuer in violation of Article 171-7, paragraph (1) or (3). In this case, the phrase "that person" in paragraph (1) is deemed to be replaced with "the relevant specified cryptoasset issuer", and the phrase "on one's own account" in items (i) and (ii) of that paragraph is deemed to be replaced with "on the account of a specified cryptoasset issuer".

The provisions of paragraph (2) (excluding item (iii)) apply mutatis mutandis to the case where there is an officer, etc. of a financial instruments business operator (including the parent company prescribed in Article 171-8, paragraph (1), item (i); the same applies in paragraph (20) of the following Article) prescribed in Article 166, paragraph (1), item (i) who has conducted purchase and sale, etc. of subject cryptoassets, etc. on the account of that financial instruments business operator in violation of Article 171-8, paragraph (1) or (3). In this case, the phrase "that person" in paragraph (2) is deemed to be replaced with "the relevant financial instruments business operator", and the phrase "on one's own account" in items (i) and (ii) of that paragraph is deemed to be replaced with "on the account of a financial instruments business operator".

In the case referred to in paragraph (1), a person that has conducted purchase and sale, etc. of subject specified cryptoassets, etc. on the account of a person set forth in the following items is deemed to have conducted the relevant purchase and sale, etc. (in the case where a person set forth in those items has conducted purchase and sale, etc. of subject specified cryptoassets, etc. on their own account in violation of Article 171-7, paragraph (1) or (3), excluding that which is identical to the relevant purchase and sale, etc.) on their own account, and paragraph (1) applies.

a company in which the person that conducted the relevant purchase and sale, etc. holds a majority of the voting rights of all shareholders, etc., or any other person specified by Cabinet Office Order as having a close relationship with that person;

a person who shares a livelihood with the person that conducted the relevant purchase and sale, etc., or any other person specified by Cabinet Office Order as having a special relationship with the person that conducted the relevant purchase and sale, etc.

In the case referred to in paragraph (2), a person that has conducted purchase and sale, etc. of subject cryptoassets, etc. on the account of a person set forth in the following items is deemed to have conducted the relevant purchase and sale, etc. (in the case where a person set forth in those items has conducted purchase and sale, etc. of subject cryptoassets, etc. on their own account in violation of Article 171-8, paragraph (1) or (3), excluding that which is identical to the relevant purchase and sale, etc.) on their own account, and paragraph (2) applies.

a company in which the person that conducted the relevant purchase and sale, etc. holds a majority of the voting rights of all shareholders, etc., or any other person specified by Cabinet Office Order as having a close relationship with that person;

a person who shares a livelihood with the person that conducted the relevant purchase and sale, etc., or any other person specified by Cabinet Office Order as having a special relationship with the person that conducted the relevant purchase and sale, etc.

In the case referred to in paragraph (3), a person that has made the sale, etc. related to cryptoassets, etc. or the purchase, etc. related to cryptoassets, etc. prescribed in Article 171-9, paragraph (1) on the account of a person set forth in the following items is deemed to have made that sale, etc. related to cryptoassets, etc. or purchase, etc. related to cryptoassets, etc. (in the case where a person set forth in those items has made the sale, etc. related to cryptoassets, etc. or the purchase, etc. related to cryptoassets, etc. prescribed in paragraph (1) of that Article on their own account in violation of paragraph (1) or (3) of that Article, excluding that which is identical to that sale, etc. related to cryptoassets, etc. or purchase, etc. related to cryptoassets, etc.) on their own account, and paragraph (3) applies.

a company in which the person that made that sale, etc. related to cryptoassets, etc. or purchase, etc. related to cryptoassets, etc. holds a majority of the voting rights of all shareholders, etc., or any other person specified by Cabinet Office Order as having a close relationship with that person;

a person who shares a livelihood with the person that made that sale, etc. related to cryptoassets, etc. or purchase, etc. related to cryptoassets, etc., or any other person specified by Cabinet Office Order as having a special relationship with the person that made that sale, etc. related to cryptoassets, etc. or purchase, etc. related to cryptoassets, etc.

Beyond what is prescribed in paragraphs (4) through (11) and the preceding three paragraphs, the price and quantity in the case where the sale, etc. of cryptoassets, etc. or the purchase, etc. of cryptoassets, etc. prescribed in paragraphs (1) through (3) (including the case where the provisions of paragraph (1) apply mutatis mutandis pursuant to paragraph (12) and the case where the provisions of paragraph (2) apply mutatis mutandis pursuant to paragraph (13); hereinafter the same applies in this paragraph) is a transaction set forth in Article 2, paragraph (21), item (ii), and any other particulars necessary for the calculation of the administrative monetary penalty under paragraphs (1) through (3), are specified by Cabinet Order.

When there is a person (hereinafter in this paragraph referred to as a "violator") who, in violation of Article 171-10, paragraph (1), has made the communication referred to in that paragraph or has committed an act of recommending the conduct of the purchase and sale, etc. referred to in that paragraph (hereinafter in this paragraph referred to as a "violation"), only in the case where a person who received that communication or was recommended to conduct that purchase and sale, etc. due to that violation (hereinafter in this paragraph and paragraph (4) referred to as an "information recipient, etc.") has conducted purchase and sale, etc. of subject specified cryptoassets, etc. relating to that violation before the disclosure under Article 171-7, paragraph (1) comes to be made of the material fact about specified cryptoassets, etc. prescribed in that paragraph relating to that violation (excluding the case that falls under any of the items of paragraph (6) of that Article), the Prime Minister must, in accordance with the procedures prescribed in the following Section, order the violator to pay to the national treasury an administrative monetary penalty in an amount equivalent to the amount specified in each of the following items, according to the category of cases set forth in those items:

when a violation has been committed in relation to the business relating to the acts set forth in Article 2, paragraph (8), item (ii) or (iii), the acts set forth in item (iv) of that paragraph (excluding over-the-counter derivatives transactions), the acts set forth in item (x) of that paragraph (excluding the purchase and sale of securities), the acts set forth in item (xix) of that paragraph, or acts specified by Cabinet Order as being equivalent to them, concerning subject specified cryptoassets, etc. (including business specified by Cabinet Office Order as incidental to them; hereinafter referred to as "intermediation-related business" in this paragraph through paragraph (3)) (excluding the case set forth in the following item): the amount obtained by multiplying by three, the amount specified by Cabinet Office Order as an amount equivalent to the consideration for intermediation-related business in the month that includes the day of the violation (if there are two or more such months, the last of those months) to be paid by the information recipient, etc. to the violator;

when a violation has been committed in relation to the business relating to the acts set forth in Article 2, paragraph (8), item (ix) or (xxii) concerning the relevant subject specified cryptoassets, etc. (hereinafter referred to as "business of public offering, etc." in this item, item (ii) of the following paragraph, item (ii) of paragraph (3), and Article 185-7, paragraphs (20) and (21)): the sum of the amounts set forth in (a) and (b):

the amount obtained by multiplying by three, the amount specified by Cabinet Office Order as an amount equivalent to the consideration for intermediation-related business in the month that includes the day of the violation (if there are two or more such months, the last of those months) to be paid by the information recipient, etc. to the violator; and

the amount obtained by multiplying by one-half, the amount specified by Cabinet Office Order as an amount equivalent to the consideration for the business of public offering, etc. and the business relating to the acts set forth in Article 2, paragraph (8), item (vi) or (xx) that is performed together with the business of public offering, etc.

in cases other than those set forth in the preceding two items: the amount obtained by multiplying by one-half the amount equivalent to the profit gained by the information recipient, etc. through the purchase and sale, etc. made by it as a result of the violation.

When a person has, in violation of Article 171-10, paragraph (2), performed the act of providing information set forth in that paragraph or recommending the purchase and sale, etc. set forth in that paragraph (hereinafter the act is referred to as a "violation" and the person is referred to as the "violator" in this paragraph), the Prime Minister must, in accordance with the procedures prescribed in the following Section, order the violator to pay to the national treasury an administrative monetary penalty in an amount equivalent to the amount prescribed in each of the following items in accordance with the category of the cases set forth in those items only when the person that has received the information by the violation or the person that has been recommended to make the purchase and sale, etc. (hereinafter referred to as the "information recipient, etc." in this paragraph and paragraph (5)) makes a purchase and sale, etc. of subject cryptoassets, etc. related to the violation before the disclosure set forth in Article 171-8, paragraph (1) is made with regard to the material fact concerning the handling, etc. of cryptoassets prescribed in that paragraph related to the violation (excluding cases that fall under the cases set forth in the items of paragraph (5) of that Article):

a violation is committed in relation to intermediation-related business concerning subject cryptoassets, etc. (excluding the case set forth in the following item): the amount obtained by multiplying by three the amount specified by Cabinet Office Order as an amount equivalent to the consideration for intermediation-related business in the month that includes the day on which the violation was committed (if there are two or more such months, the last of those months) to be paid by the information recipient, etc. to the violator;

a violation is committed in relation to the business of public offering, etc. concerning those subject cryptoassets, etc.: the sum of the amounts set forth in (a) and (b) below:

the amount obtained by multiplying by three the amount specified by Cabinet Office Order as an amount equivalent to the consideration for intermediation-related business in the month that includes the day on which the violation was committed (if there are two or more such months, the last of those months) to be paid by the information recipient, etc. to the violator;

the amount obtained by multiplying by one-half the amount specified by Cabinet Office Order as an amount equivalent to the consideration for that business of public offering, etc. and the business relating to the acts set forth in Article 2, paragraph (8), item (vi) or (xx) that is performed together with that business of public offering, etc.; and

in cases other than those set forth in the preceding two items: the amount obtained by multiplying by one-half the amount equivalent to the profit gained by the information recipient, etc. through the purchase and sale, etc. made by it as a result of the violation.

When a person has, in violation of Article 171-10, paragraph (3), performed the act of providing information set forth in that paragraph or recommending the sale, etc. of cryptoassets, etc. or the purchase, etc. of cryptoassets, etc. set forth in that paragraph (hereinafter the act is referred to as a "violation" and the person is referred to as the "violator" in this paragraph), the Prime Minister must, in accordance with the procedures prescribed in the following Section, order the violator to pay to the national treasury an administrative monetary penalty in an amount equivalent to the amount prescribed in each of the following items in accordance with the category of the cases set forth in those items only when the person that has received the information by the violation or the person that has been recommended to make the sale, etc. of cryptoassets, etc. or the purchase, etc. of cryptoassets, etc. (hereinafter referred to as the "information recipient, etc." in this paragraph and paragraph (6)) makes a sale, etc. of cryptoassets, etc. or a purchase, etc. of cryptoassets, etc. related to the violation before the disclosure set forth in Article 171-9, paragraph (1) is made with regard to the fact concerning large-volume trading related to the violation (excluding cases that fall under the cases set forth in the items of paragraph (5) of that Article):

a violation is committed in relation to intermediation-related business concerning cryptoassets, etc. (excluding the case set forth in the following item): the amount obtained by multiplying by three the amount specified by Cabinet Office Order as an amount equivalent to the consideration for intermediation-related business in the month that includes the day on which the violation was committed (if there are two or more such months, the last of those months) to be paid by the information recipient, etc. to the violator;

a violation is committed in relation to the business of public offering, etc. concerning those cryptoassets, etc.: the sum of the amounts set forth in (a) and (b) below:

the amount obtained by multiplying by three the amount specified by Cabinet Office Order as an amount equivalent to the consideration for intermediation-related business in the month that includes the day on which the violation was committed (if there are two or more such months, the last of those months) to be paid by the information recipient, etc. to the violator;

the amount obtained by multiplying by one-half the amount specified by Cabinet Office Order as an amount equivalent to the consideration for that business of public offering, etc. and the business relating to the acts set forth in Article 2, paragraph (8), item (vi) or (xx) that is performed together with that business of public offering, etc.; and

in cases other than those set forth in the preceding two items: the amount obtained by multiplying by one-half the amount equivalent to the profit gained by the information recipient, etc. through the sale, etc. of cryptoassets, etc. or the purchase, etc. of cryptoassets, etc. made by it as a result of the violation.

The "amount equivalent to the profit" in paragraph (1), item (iii) means the amount prescribed in each of the following items in accordance with the category of the cases set forth in those items (or, if the case falls under all of the following items, the sum of the amounts prescribed in those items).

the information recipient, etc. makes a sale, etc. of subject specified cryptoassets, etc.: the amount obtained by deducting the amount set forth in (b) below from the amount set forth in (a) below:

for that sale, etc. of subject specified cryptoassets, etc., the amount obtained by multiplying the price at which that sale, etc. of subject specified cryptoassets, etc. was made by its quantity;

for that sale, etc. of subject specified cryptoassets, etc., the amount obtained by multiplying the lowest price during the two weeks after the disclosure set forth in paragraph (1) by the quantity of that sale, etc. of subject specified cryptoassets, etc.;

the information recipient, etc. makes a purchase, etc. of subject specified cryptoassets, etc.: the amount obtained by deducting the amount set forth in (b) below from the amount set forth in (a) below:

for that purchase, etc. of subject specified cryptoassets, etc., the amount obtained by multiplying the highest price during the two weeks after the disclosure set forth in paragraph (1) by the quantity of that purchase, etc. of subject specified cryptoassets, etc.;

for that purchase, etc. of subject specified cryptoassets, etc., the amount obtained by multiplying the price at which that purchase, etc. of subject specified cryptoassets, etc. was made by its quantity;

The "amount equivalent to the profit" in paragraph (2), item (iii) means the amount prescribed in each of the following items in accordance with the category of the cases set forth in those items (or, if the case falls under all of the following items, the sum of the amounts prescribed in those items).

the information recipient, etc. makes a sale, etc. of subject cryptoassets, etc.: the amount obtained by deducting the amount set forth in (b) below from the amount set forth in (a) below:

for that sale, etc. of subject cryptoassets, etc., the amount obtained by multiplying the price at which that sale, etc. of subject cryptoassets, etc. was made by its quantity;

for that sale, etc. of subject cryptoassets, etc., the amount obtained by multiplying the lowest price during the two weeks after the disclosure set forth in paragraph (2) by the quantity of that sale, etc. of subject cryptoassets, etc.;

the information recipient, etc. makes a purchase, etc. of subject cryptoassets, etc.: the amount obtained by deducting the amount set forth in (b) below from the amount set forth in (a) below:

for that purchase, etc. of subject cryptoassets, etc., the amount obtained by multiplying the highest price during the two weeks after the disclosure set forth in paragraph (2) by the quantity of that purchase, etc. of subject cryptoassets, etc.;

for that purchase, etc. of subject cryptoassets, etc., the amount obtained by multiplying the price at which that purchase, etc. of subject cryptoassets, etc. was made by its quantity.

The "amount equivalent to the profit" in paragraph (3), item (iii) means the amount prescribed in each of the following items in accordance with the category of the cases set forth in those items (or, if the case falls under all of the following items, the sum of the amounts prescribed in those items).

the information recipient, etc. makes a sale, etc. of cryptoassets, etc.: the amount obtained by deducting the amount set forth in (b) below from the amount set forth in (a) below:

for that sale, etc. of cryptoassets, etc., the amount obtained by multiplying the price at which that sale, etc. of cryptoassets, etc. was made by its quantity;

for that sale, etc. of cryptoassets, etc., the amount obtained by multiplying the lowest price during the two weeks after the disclosure set forth in paragraph (3) by the quantity of that sale, etc. of cryptoassets, etc.;

the information recipient, etc. makes a purchase, etc. of cryptoassets, etc.: the amount obtained by deducting the amount set forth in (b) below from the amount set forth in (a) below:

for that purchase, etc. of cryptoassets, etc., the amount obtained by multiplying the highest price during the two weeks after the disclosure set forth in paragraph (3) by the quantity of that purchase, etc. of cryptoassets, etc.;

for that purchase, etc. of cryptoassets, etc., the amount obtained by multiplying the price at which that purchase, etc. of cryptoassets, etc. was made by its quantity.

The "sale, etc. of subject specified cryptoassets, etc." in paragraph (4), item (i) means the sale of subject specified cryptoassets, etc., a transaction set forth in Article 2, paragraph (21), item (ii) (limited to a transaction in which the relevant person is the party to pay money if the actual figure exceeds the agreed figure), a transaction set forth in item (iii) of that paragraph (limited to a transaction in which the relevant person is the party to grant an option), or any other transaction specified by Cabinet Order.

The "lowest price during the two weeks after the disclosure set forth in paragraph (1)" in paragraph (4), item (i), (b) means the lowest price among the lowest prices prescribed in Article 43-9, Article 67-19 or Article 130 for each day in the period from the day on which the disclosure set forth in paragraph (1) is made to the day on which two weeks have elapsed counting from the day following that day (if there is no such price, the amount specified by Cabinet Office Order as being equivalent to it, and for the day on which that disclosure is made, the amount specified by Cabinet Office Order).

The "purchase, etc. of subject specified cryptoassets, etc." in paragraph (4), item (ii) means the purchase of subject specified cryptoassets, etc., a transaction set forth in Article 2, paragraph (21), item (ii) (limited to a transaction in which the relevant person is the party to receive money if the actual figure exceeds the agreed figure), a transaction set forth in item (iii) of that paragraph (limited to a transaction in which the relevant person is the party to acquire an option), or any other transaction specified by Cabinet Office Order.

The "highest price during the two weeks after the disclosure set forth in paragraph (1)" in paragraph (4), item (ii), (a) means the highest price among the highest prices prescribed in Article 43-9, Article 67-19 or Article 130 for each day in the period from the day on which the disclosure set forth in paragraph (1) is made to the day on which two weeks have elapsed counting from the day following that day (if there is no such price, the amount specified by Cabinet Office Order as being equivalent to it, and for the day on which that disclosure is made, the amount specified by Cabinet Office Order).

The "sale, etc. of subject cryptoassets, etc." in paragraph (5), item (i) means the sale of subject cryptoassets, etc., a transaction set forth in Article 2, paragraph (21), item (ii) (limited to a transaction in which the relevant person is the party to pay money if the actual figure exceeds the agreed figure), a transaction set forth in item (iii) of that paragraph (limited to a transaction in which the relevant person is the party to grant an option), or any other transaction specified by Cabinet Order.

The "lowest price during the two weeks after the disclosure set forth in paragraph (2)" in paragraph (5), item (i), (b) means the lowest price among the lowest prices prescribed in Article 43-9, Article 67-19 or Article 130 for each day in the period from the day on which the disclosure set forth in paragraph (2) is made to the day on which two weeks have elapsed counting from the day following that day (if there is no such price, the amount specified by Cabinet Office Order as being equivalent to it, and for the day on which that disclosure is made, the amount specified by Cabinet Office Order).

The "purchase, etc. of subject cryptoassets, etc." in paragraph (5), item (ii) means the purchase of subject cryptoassets, etc., a transaction set forth in Article 2, paragraph (21), item (ii) (limited to a transaction in which the relevant person is the party to receive money if the actual figure exceeds the agreed figure), a transaction set forth in item (iii) of that paragraph (limited to a transaction in which the relevant person is the party to acquire an option), or any other transaction specified by Cabinet Order.

The "highest price during the two weeks after the disclosure set forth in paragraph (2)" in paragraph (5), item (ii), (a) means the highest price among the highest prices prescribed in Article 43-9, Article 67-19 or Article 130 for each day in the period from the day on which the disclosure set forth in paragraph (2) is made to the day on which two weeks have elapsed counting from the day following that day (if there is no such price, the amount specified by Cabinet Office Order as being equivalent to it, and for the day on which that disclosure is made, the amount specified by Cabinet Office Order).

The "sale, etc. of cryptoassets, etc." in paragraph (6), item (i) means the sale of cryptoassets, etc., a transaction set forth in Article 2, paragraph (21), item (ii) (limited to a transaction in which the relevant person is the party to pay money if the actual figure exceeds the agreed figure), a transaction set forth in item (iii) of that paragraph (limited to a transaction in which the relevant person is the party to grant an option), or any other transaction specified by Cabinet Order.

The "lowest price during the two weeks after the disclosure set forth in paragraph (3)" in paragraph (6), item (i), (b) means the lowest price among the lowest prices prescribed in Article 43-9, Article 67-19 or Article 130 for each day in the period from the day on which the disclosure set forth in paragraph (3) is made to the day on which two weeks have elapsed counting from the day following that day (if there is no such price, the amount specified by Cabinet Office Order as being equivalent to it, and for the day on which that disclosure is made, the amount specified by Cabinet Office Order).

The "purchase, etc. of cryptoassets, etc." in paragraph (6), item (ii) means the purchase of cryptoassets, etc., a transaction set forth in Article 2, paragraph (21), item (ii) (limited to a transaction in which the relevant person is the party to receive money if the actual figure exceeds the agreed figure), a transaction set forth in item (iii) of that paragraph (limited to a transaction in which the relevant person is the party to acquire an option), or any other transaction specified by Cabinet Office Order.

The "highest price during the two weeks after the disclosure set forth in paragraph (3)" in paragraph (6), item (ii), (a) means the highest price among the highest prices prescribed in Article 43-9, Article 67-19 or Article 130 for each day in the period from the day on which the disclosure set forth in paragraph (3) is made to the day on which two weeks have elapsed counting from the day following that day (if there is no such price, the amount specified by Cabinet Office Order as being equivalent to it, and for the day on which that disclosure is made, the amount specified by Cabinet Office Order).

The provisions of paragraph (1) apply mutatis mutandis to the case in which an officer, etc. specified in Article 166, paragraph (1), item (i) of a specified cryptoasset issuer has conducted a specified act of providing information, etc. (meaning an act of providing information set forth in Article 171-10, paragraph (1) or recommending the purchase and sale, etc. set forth in that paragraph for the purpose prescribed in that paragraph) as the business of the specified cryptoasset issuer. In this case, the term "the violator" in paragraph (1) is deemed to be replaced with "the specified cryptoasset issuer."

The provisions of paragraph (2) apply mutatis mutandis to the case in which an officer, etc. specified in Article 166, paragraph (1), item (i) of a financial instruments business operator has conducted a specified act of providing information, etc. (meaning an act of providing information set forth in Article 171-10, paragraph (2) or recommending the purchase and sale, etc. set forth in that paragraph for the purpose prescribed in that paragraph) as the business of the financial instruments business operator. In this case, the term "the violator" in paragraph (2) is deemed to be replaced with "the financial instruments business operator."

The provisions of paragraph (3) apply mutatis mutandis to the case in which an officer, etc. specified in Article 166, paragraph (1), item (i) of a large-volume trader (meaning the large-volume trader prescribed in Article 171-9, paragraph (1), item (i); the same applies hereafter in this paragraph) has conducted a specified act of providing information, etc. (meaning an act of providing information set forth in Article 171-10, paragraph (3) or recommending the sale, etc. of cryptoassets, etc. or the purchase, etc. of cryptoassets, etc. set forth in that paragraph for the purpose prescribed in that paragraph) as the business of the large-volume trader. In this case, the term "the violator" in paragraph (3) is deemed to be replaced with "the large-volume trader."

Beyond what is prescribed in paragraphs (4) through (18), when the sale, etc. of subject specified cryptoassets, etc. or the purchase, etc. of subject specified cryptoassets, etc. prescribed in paragraph (4), the sale, etc. of subject cryptoassets, etc. or the purchase, etc. of subject cryptoassets, etc. prescribed in paragraph (5), and the sale, etc. of cryptoassets, etc. or the purchase, etc. of cryptoassets, etc. prescribed in paragraph (6) fall under the transaction set forth in Article 2, paragraph (21), item (ii), the price and volume and any other necessary particulars relevant to the calculation of an administrative monetary penalty set forth in paragraph (1) (including as applied mutatis mutandis pursuant to paragraph (19)), paragraph (2) (including as applied mutatis mutandis pursuant to paragraph (20)) and paragraph (3) (including as applied mutatis mutandis pursuant to the preceding paragraph) are specified by Cabinet Order.

It is not permitted to order the payment of an administrative monetary penalty if the amount of the administrative monetary penalty calculated pursuant to the provisions of Articles 172 through the preceding Article is less than ten thousandone yen.

If the amount of the administrative monetary penalty calculated pursuant to the provisions of Article 172 through the preceding Article includes an amount that is less than ten thousandone yen, the amount is rounded down to the nearest ten thousand yen.

If a person prescribed in the paragraphs of Article 172; an issuer prescribed in Article 172-2, paragraph (1), (4), or (6); an issuer prescribed in the paragraphs of Article 172-3; an issuer prescribed in Article 172-4, paragraphs (1) through (3); a specified non-financial information audit certification provider prescribed in Article 172-4-2, paragraph (1); a person prescribed in Article 172-5; a person prescribed in the paragraphs of Article 172-6; a person prescribed in Article 172-7; a person prescribed in Article 172-8; a person prescribed in Article 172-9; an issuer prescribed in Article 172-10, paragraph (1); an issuer prescribed in Article 172-11, paragraph (1); a specified involved person prescribed in Article 172-12, paragraph (1); a person prescribed in Article 172-13; a specified cryptoasset issuer prescribed in Article 172-14, paragraph (1); a financial instruments business operator prescribed in the paragraphs of Article 172-15; a specified cryptoasset issuer prescribed in Article 172-16, paragraphs (1) through (4); a financial instruments business operator prescribed in the paragraphs of Article 172-17; a financial instruments business operator prescribed in the paragraphs of Article 172-18; a financial instruments business operator prescribed in the paragraphs of Article 172-19; a violator prescribed in Article 173, paragraph (1); (excluding a violator prescribed in Article 174-2-2, paragraph (1); the same applies in Article 185-7, paragraph (25)); a violator prescribed in Article 174, paragraph (1); (excluding a violator prescribed in Article 174-2-2, paragraph (1); the same applies in Article 185-7, paragraph (25)); a violator prescribed in Article 174-2, paragraph (1); (excluding a violator prescribed in Article 174-2-2, paragraph (1); the same applies in Article 185-7, paragraph (25)); a violator prescribed in Article 174-2-2, paragraph (1); a violator prescribed in Article 174-3, paragraph (1); a person prescribed in Article 175, paragraph (1); a person prescribed in paragraph (2) of that Article; a listed company, etc. prescribed in paragraph (910) of that Article; a violator prescribed in Article 175-2, paragraph (1) of the preceding Article; a violator prescribed in paragraph (2) of that Article; a listed company, etc. prescribed in paragraph (1314) of that Article; or a tender offeror, etc. prescribed in paragraph (1415) of that Article; a person prescribed in Article 175-3, paragraph (1); a person prescribed in paragraph (2) of that Article; a person prescribed in paragraph (3) of that Article; a specified cryptoasset issuer prescribed in paragraph (12) of that Article; a financial instruments business operator prescribed in paragraph (13) of that Article; a violator prescribed in Article 175-4, paragraph (1); a violator prescribed in paragraph (2) of that Article; a violator prescribed in paragraph (3) of that Article; a specified cryptoasset issuer prescribed in paragraph (19) of that Article; a financial instruments business operator prescribed in paragraph (20) of that Article; a large-volume trader prescribed in paragraph (21) of that Article; or a person prescribed in the preceding Article is a corporation, and if that corporation disappears in a merger, the acts performed by the corporation that has disappeared are deemed to be acts performed by the corporation that has survived the merger or by the corporation incorporated in the merger, and the provisions of Article 172 through the preceding Article and the preceding three paragraphs apply.