Payment Services Act

The purpose of this Act is to enforce registration and provide other necessary measures with respect to the issuance of prepaid payment instruments, or funds transfer transactions carried out by persons other than deposit-taking institutions, exchange of electronic payment instruments, etc., exchange of cryptoassets, etc., analysis on funds transfer transactions, and the clearing of funds transfer transactions between deposit-taking institutions, in order to ensure the appropriate provision of payment services, and protection of the users, etc. thereof, and to promote the provision of those services, thereby contributing to the improvement of the safety, efficiency, and convenience of the payment and settlement system.

The term "cryptoassetelectronic payment instruments intermediary services" as used in this Act means any of the following; provided, however, that those indicating the rights prescribed in Article 29-2, paragraph (1), item (viii) engaging in electronic payment instruments intermediary acts (meaning acts by a person other than an electronic payment instruments service provider, as entrusted by an electronic payment instruments service provider, of intermediating, for that electronic payment instruments service provider, the purchase and sale of an electronic payment instrument or exchange with another electronic payment instrument; the Financial Instruments and Exchange Act are excluded:same applies hereinafter) in the course of trade.

property value (limited to that which is recorded on an electronic device or any other object by electronic means, and excluding the Japanese currency, foreign currencies, currency-denominated assets, and electronic payment instruments (excluding those falling under the category of currency-denominated assets); the same applies in the following item) which can be used in relation to unspecified persons for the purpose of paying consideration for the purchase or leasing of goods, etc. or the receipt of provision of services and can also be purchased from and sold to unspecified persons acting as counterparties, and which can be transferred by using an electronic data processing system; and

property value which can be mutually exchanged with what is set forth in the preceding item with unspecified persons acting as counterparties, and which can be transferred by using an electronic data processing system.

The term "cryptoasset exchange services" as used in this Act means carrying out any of the following acts in the course of trade, the term "exchange of cryptoassets, etc.electronic payment instruments intermediary service provider" as used in this Act means the act set forth in item (i) or (ii), and the term "management of cryptoassets" as used in this Act means the act set fortha person who has been registered referred to in item (iv):Article 63-2.

purchase and sale of a cryptoasset or exchange with another cryptoasset;

intermediary, brokerage or agency services for the act set forth in the preceding item;

management of users' money, carried out by persons in connection with their acts set forth in the preceding two items; and

management of cryptoassets on behalf of another person (excluding cases where the relevant management in the course of trade is governed by special provisions of other Acts).

The term "cryptoasset exchange foreign electronic payment instruments intermediary service provider" as used in this Act means a person who has been registered and carries out electronic payment instruments intermediary services in a foreign state, whose registration type is same as the one referred to in Article 63-2, pursuant to the provisions of laws and regulations of that foreign state comparable to this Act (including other administrative dispositions similar to that registration), or a person who carries out, in the course of trade, an act equivalent to the electronic payment instruments intermediary act in conformity with the laws and regulations of that foreign state.

The term "foreign cryptoasset exchange service providerfunds transfer transaction analysis services" as used in this Act means a person who has been registered and carries out cryptoasset exchange services in a foreign state, whose registration type is same as engaging in any of the following acts, as entrusted by multiple financial institutions, etc. (meaning deposit-taking institutions and other persons specified by Cabinet Order; the one referred same applies hereinafter), with regard to in Article 63-2, pursuant to the provisions funds transfer transactions (including transactions specified by order of laws and regulations of that foreign state comparable to the competent ministry as being equivalent thereto; hereinafter the same applies in this Act (including other administrative dispositions similar to that registration).paragraph and Chapter IV) carried out by the financial institutions, etc.:

analyzing whether the relevant funds transfer transaction constitutes a funds transfer transaction related to the payment or receipt of payment (meaning the payment or receipt of payment prescribed in Article 8 of the Foreign Exchange and Foreign Trade Act (Act No. 228 of 1949)) set forth in the items of Article 17 of that Act (including as applied mutatis mutandis pursuant to Article 17-3 of that Act and other provisions specified by Cabinet Order), and notifying the financial institutions, etc. of the analysis results;

analyzing whether the relevant funds transfer transaction constitutes a funds transfer transaction related to a person subject to asset freezing, etc. prescribed in Article 9 of the Act on Special Measures Concerning Freezing of Assets Implemented by Japan in Light of the United Nations Security Council Resolution 1267 (Act No. 124 of 2014) or a person specified by order of the competent ministry as being equivalent thereto, and notifying the financial institutions, etc. of the analysis results; and

conducting analysis as required when making a determination under the provisions of Article 8, paragraph (1) of the Act on Prevention of Transfer of Criminal Proceeds (Act No. 22 of 2007) regarding the relevant funds transfer transaction, etc., and notifying the financial institutions, etc. of the analysis results.

The term "electronic payment instruments and cryptoasset intermediary services" as used in this Act means carrying out any of the following acts in the course of trade, the term "electronic payment instruments intermediary actfunds transfer transaction analysis service provider" as used in this Act means the act set forth in item (i), and the term "cryptoasset intermediary act" as used in this Act meansa person who has obtained the act set forthlicense referred to in item (ii):Article 63-23.

a person other than an electronic payment instruments service provider, as entrusted by an electronic payment instruments service provider, acting as an intermediary in the purchase and sale of an electronic payment instrument or exchange with another electronic payment instrument for that electronic payment instruments service provider;

a person other than a cryptoasset exchange service provider, as entrusted by a cryptoasset exchange service provider, acting as an intermediary in the purchase and sale of a cryptoasset or exchange with another cryptoasset for that cryptoasset exchange service provider.

The term "electronic payment instruments and cryptoasset intermediary service providerclearing services for interbank funds transfer" as used in this Act means a person who has been registered referred to acts of bearing obligations under funds transfer transactions arising between deposit-taking institutions in Article 63-22-2the course of trade by way of the assumption of an obligation, novation or other means for the purpose of clearing claims and debts relating to the funds transfer transactions.

The term "foreign electronic payment instruments and cryptoasset intermediary service providerclearing institution for interbank funds transfer" as used in this Act means a person who has been registered and carries out electronic payment instruments and cryptoasset intermediary services in a foreign state, whose registration type is same asobtained the onelicense referred to in Article 63-22-2, pursuant to the provisions of laws and regulations of that foreign state comparable to this Act (including other administrative dispositions similar to that registration), or a person who carries out, in the course of trade, an act equivalent to any of the acts set forth in the items of 64, paragraph (18) in conformity with the laws and regulations of that foreign state1).

The term "funds transfer transaction analysis servicescertified association for payment service providers" as used in this Act means engaging in any of the following acts, as entrusted by multiple financial institutions, etc. (meaning banks and other persons specified by Cabinet Order; the same applies hereinafter), with regarda general incorporated association that has been certified pursuant to funds transfer transactions (including transactions specified by order of the competent ministry as being equivalent thereto; hereinafter the same applies in this paragraph and Chapter IV) carried out by the financial institutions, etc.:provisions of Article 87.

analyzing whether the relevant funds transfer transaction constitutes a funds transfer transaction related to the payment or receipt of payment (meaning the payment or receipt of payment prescribed in Article 8 of the Foreign Exchange and Foreign Trade Act (Act No. 228 of 1949)) set forth in the items of Article 17 of that Act (including as applied mutatis mutandis pursuant to Article 17-3 of that Act and other provisions specified by Cabinet Order), and notifying the financial institutions, etc. of the analysis results;

analyzing whether the relevant funds transfer transaction constitutes a funds transfer transaction related to a person subject to asset freezing, etc. prescribed in Article 9 of the Act on Special Measures Concerning Freezing of Assets Implemented by Japan in Light of the United Nations Security Council Resolution 1267 (Act No. 124 of 2014) or a person specified by order of the competent ministry as being equivalent thereto, and notifying the financial institutions, etc. of the analysis results; and

conducting analysis as required when making a determination under the provisions of Article 8, paragraph (1) of the Act on Prevention of Transfer of Criminal Proceeds (Act No. 22 of 2007) regarding the relevant funds transfer transaction, etc., and notifying the financial institutions, etc. of the analysis results.

The term "funds transfer transaction analysis service providerdesignated dispute resolution organization" as used in this Act means a person who has obtained the license referredbeen designated pursuant to in the provisions of Article 63-2399, paragraph (1).

The term "clearing services for interbank funds transferdispute resolution services" as used in this Act means acts of bearing obligations under services involved in complaint processing procedures (meaning procedures for processing complaints concerning funds transfer transactions arising between deposit-taking institutions in the course of trade by way of services (excluding the specified funds transfer services prescribed in Article 36-2, paragraph (4); hereinafter the assumption of an obligation, novation same applies in this paragraph), electronic payment instruments services or other means electronic payment instruments intermediary services) and dispute resolution procedures (meaning procedures for the purpose of clearing claims and debts relating resolving a dispute concerning funds transfer services, electronic payment instruments services or electronic payment instruments intermediary services between parties who agree to seek a settlement without following litigation proceedings; hereinafter the funds transfer transactionssame applies except in Article 100, paragraph (3)), as well as services incidental thereto.

The term "clearing institution for interbank funds transfercategories of dispute resolution services" as used in this Act means a person who has obtainedcategories of funds transfer business (meaning businesses involved in funds transfer transactions carried out by a funds transfer service provider; the license referred to same applies in Article 51-4, paragraph (1), item (i)) and electronic payment instruments business (meaning businesses involved in any of the acts set forth in the items of paragraph (10) performed by an electronic payment instruments service provider and businesses involved in the electronic payment instruments intermediary act performed by an electronic payment instruments intermediary service provider; the same applies in Article 6462-16, paragraph (1), item (i)) which are related to dispute resolution services.

The term "certified association for payment service providerstrust company, etc." as used in this Act means a general incorporated association trust company prescribed in Article 2, paragraph (2) of the Trust Business Act (Act No. 154 of 2004) or a foreign trust company prescribed in paragraph (6) of that Article, or a financial institution that has been certified pursuant obtained the authorization referred to in Article 1, paragraph (1) of the provisions Act on Engagement in Trust Business by Financial Institutions (Act No. 43 of Article 871943) (referred to as a "trust bank, etc." in the following paragraph).

The term "designated dispute resolution organizationspecified trust company" as used in this Act means a person who has been designated pursuant to the provisions of Article 99, paragraph (1)trust company, etc. issuing specified trust beneficial interests (excluding a trust bank, etc.), which is specified by Cabinet Order.

The term "dispute resolution services" as used in this Act means services involved in complaint processing procedures (meaning procedures for processing complaints concerning funds transfer services (excluding the specified funds transfer services prescribedtransaction in Article 36-2, paragraph (4); hereinafter the same appliesspecified trusts" as used in this paragraph), electronic payment instruments services, cryptoasset exchange services or electronic payment instruments and cryptoasset intermediary services) and dispute resolution procedures (meaning procedures for resolvingAct means a dispute concerning funds transfer services, electronic payment instruments services, cryptoasset exchange services or electronic payment instruments and cryptoasset intermediary services between parties who agree to seek a settlement without following litigation proceedings; hereinaftertransaction carried out through the same applies except in Article 100, paragraph (3)), as well as services incidental theretoissuance of specified trust beneficial interests.

The term "categories of dispute resolution servicesdeposit-taking institutions" as used in this Act means categories of funds transfer business (meaning businesses involved in funds transfer transactions carried out by a funds transfer service provider; the same applies in Article 51-4, paragraph (1), item (i)), electronic payment instruments business (meaning businesses involved in any of the acts set forth in the items of paragraph (10) performed by an electronic payment instruments service provider and businesses involved in the electronic payment instruments intermediary act performed by an electronic payment instruments and cryptoasset intermediary service provider; the same applies in Article 62-16, paragraph (1), item (i)), or cryptoasset exchange business (meaning businesses involved in any of the acts set forth in the items of paragraph (15) performed by a cryptoasset exchange service provider and businesses involved in the cryptoasset intermediary act performed by an electronic payment instruments and cryptoasset intermediary service provider; the same applies in Article 63-12, paragraph (1), item (i)) which are related to dispute resolution services.following persons:

a bank specified in Article 2, paragraph (1) of the Banking Act (Act No. 59 of 1981);

a long-term credit bank specified in Article 2 of the Long Term Credit Bank Act (Act No. 187 of 1952);

a credit union;

a federation of shinkin banks;

a labor bank;

a federation of labor banks;

a credit cooperative;

a federation of credit cooperatives that engages in the business referred to in Article 9-9, paragraph (1), item (i) of the Small and Medium-Sized Enterprise Cooperatives Act (Act No. 181 of 1949);

an agricultural cooperative that engages in the business referred to in Article 10, paragraph (1), item (iii) of the Agricultural Co-operatives Act (Act No. 132 of 1947);

a federation of agricultural cooperatives that engages in the business referred to in Article 10, paragraph (1), item (iii) of the Agricultural Co-operatives Act;

a fisheries cooperative that engages in the business referred to in Article 11, paragraph (1), item (iv) of the Fishery Industry Cooperative Act (Act No. 242 of 1948);

a federation of fisheries cooperatives that engages in the business referred to in Article 87, paragraph (1), item (iv) of the Fishery Industry Cooperative Act;

a fishery processing cooperative that engages in the business referred to in Article 93, paragraph (1), item (ii) of the Fishery Industry Cooperative Act;

a federation of fishery processing cooperatives that engages in the business referred to in Article 97, paragraph (1), item (ii) of the Fishery Industry Cooperative Act;

the Norinchukin Bank; and

the Shoko Chukin Bank Limited.

The term a "trust company"petition for commencement of bankruptcy proceedings, etc." as used in this Act means a trust company prescribed in Article 2, paragraph (2)petition for commencement of the Trust Business Act (Act No. 154 of 2004)bankruptcy proceedings, rehabilitation proceedings, reorganization proceedings or a foreign trust company prescribed in paragraph (6) of that Articlespecial liquidation, or a financial institution that has obtained the authorization referred to in Article 1, paragraph (1)petition for recognition of the Act on Engagement in Trust Business by Financial Institutions (Act No. 43foreign insolvency proceedings (including filing of 1943) (referred to as a "trust bank, etc." in the following paragrapha petition equivalent thereto under laws and regulations of a foreign state).

The term "specified trust companyBanking Act, etc." as used in this Act means a trust company, etc. issuing specified beneficial interests in a trust (excluding a trust bank, etc.any of the following: the Banking Act, the Long Term Credit Bank Act, the Shinkin Bank Act (Act No. 238 of 1951), the Labor Bank Act (Act No. 227 of 1953), which is specified the Small and Medium-Sized Enterprise Cooperatives Act, the Act on Financial Businesses by Cabinet OrderCooperative (Act No. 183 of 1949), the Agricultural Co-operatives Act, the Fishery Industry Cooperative Act, the Norinchukin Bank Act (Act No. 93 of 2001) and the Shoko Chukin Bank Limited Act (Act No. 74 of 2007).

The term "funds transfer transaction in specified trusts" as used in this Act means a funds transfer transaction carried out through the issuance of beneficial interests in a trust.

The term "deposit-taking institutions" as used in this Act means any of the following persons:

a bank specified in Article 2, paragraph (1) of the Banking Act (Act No. 59 of 1981);

a long-term credit bank specified in Article 2 of the Long-Term Credit Bank Act (Act No. 187 of 1952);

a credit union;

a federation of shinkin banks;

a labor bank;

a federation of labor banks;

a credit cooperative;

a federation of credit cooperatives that engages in the business referred to in Article 9-9, paragraph (1), item (i) of the Small and Medium Sized Enterprise Cooperatives Act (Act No. 181 of 1949);

an agricultural cooperative that engages in the business referred to in Article 10, paragraph (1), item (iii) of the Agricultural Cooperatives Act (Act No. 132 of 1947);

a federation of agricultural cooperatives that engages in the business referred to in Article 10, paragraph (1), item (iii) of the Agricultural Cooperatives Act;

a fisheries cooperative that engages in the business referred to in Article 11, paragraph (1), item (iv) of the Fisheries Cooperatives Act (Act No. 242 of 1948);

a federation of fisheries cooperatives that engages in the business referred to in Article 87, paragraph (1), item (iv) of the Fisheries Cooperatives Act;

a fishery processing cooperative that engages in the business referred to in Article 93, paragraph (1), item (ii) of the Fisheries Cooperatives Act;

a federation of fishery processing cooperatives that engages in the business referred to in Article 97, paragraph (1), item (ii) of the Fisheries Cooperatives Act;

the Norinchukin Bank; and

the Shoko Chukin Bank Limited.

The term "petition for commencement of bankruptcy proceedings, etc." as used in this Act means a petition for commencement of bankruptcy proceedings, rehabilitation proceedings, reorganization proceedings or special liquidation, or a petition for recognition of foreign insolvency proceedings (including filing of a petition equivalent thereto under laws and regulations of a foreign state).

The term "Banking Act, etc." as used in this Act means any of the following: the Banking Act, the Long-Term Credit Bank Act, the Shinkin Bank Act (Act No. 238 of 1951), the Labor Bank Act (Act No. 227 of 1953), the Small and Medium Sized Enterprise. Cooperatives Act, the Act on Financial Businesses by Cooperative (Act No. 183 of 1949), the Agricultural Cooperatives Act, the Fisheries Cooperatives Act, the Norinchukin Bank Act (Act No. 93 of 2001) and the Shoko Chukin Bank Limited Act (Act No. 74 of 2007).

The term "dispute resolution measures" as used in paragraph (1), item (ii) means seeking resolution of a dispute with the user through the authorized dispute resolution procedures (meaning the authorized dispute resolution procedures prescribed in Article 2, item (iii) of the Act on Promoting thePromotion of Use of Alternative Dispute Resolution (Act No. 151 of 2004); the same applies in Article 62-16, paragraph (5) and Article 63-12, paragraph (5)) or any other measures specified by Cabinet Office Order as similar thereto.

a corporation which had its registration referred to in Article 37 revoked pursuant to the provisions of Article 56, paragraph (1) or (2), had its registration referred to in Article 62-3 revoked pursuant to the provisions of Article 62-22, paragraph (1) or (2), had its registration referred to in Article 63-2 revoked pursuant to the provisions of Article 63-1763-20, paragraph (1) or (2), had its registrationthe permission referred to in Article 63-22-263-23 revoked pursuant to the provisions of Article 63-22-2063-37, paragraph (1) or (2), had its license under the permission provisions of Article 64, paragraph (1) revoked pursuant to the provisions of Article 82, paragraph (1) or (2), had its registration referred to in Article 63-23 29 of the Financial Instruments and Exchange Act (limited to a registration in which the particulars set forth in Article 29-2, paragraph (1), item (v) of that Act include business pertaining to the acts set forth in Article 28, paragraph (5), item (i) of that Act or cryptoasset, etc. management business (meaning the cryptoasset, etc. management business prescribed in paragraph (8) of that Article; the same applies in Article 63-5, paragraph (1), item (i), (e))) revoked pursuant to the provisions of Article 63-3752, paragraph (1) or (2), or 4) of that Act, had its license under the provisions registration referred to in Article 66 of that Act (limited to a registration in which the particulars set forth in Article 6466-2, paragraph (1) , item (iv) of that Act include the cryptoasset purchase and sale intermediary business, etc. prescribed in that item) revoked pursuant to the provisions of Article 8266-20, paragraph (1) or (2)3) of that Act, or had the registration, permission or license of the same type in a foreign state (including other administrative dispositions similar to the registration, permission or license) revoked pursuant to the provisions of laws and regulations of the foreign state equivalent to this Act, the Financial Instruments and Exchange Act or the Banking Act, etc., and for which five years have not elapsed from the date of the revocation;

When an electronic payment instruments service provider (limited to one that engages only in the electronic payment instruments-related business) has received the registration referred to in Article 63-22-2 (limited to a registration in which the particulars set forth in Article 63-22-3, paragraph (1), item (v) include business pertaining to an electronic payment instruments intermediary act; hereinafter the same in this paragraph and the following paragraph) or the registration of change referred to in Article 63-22-6, paragraph (1) (limited to one resulting from newly intending to engage in business pertaining to an electronic payment instruments intermediary act; hereinafter the same in this paragraph and the following paragraph)63-2, the registration of that electronic payment instruments service provider referred to in Article 62-3 ceases to be effective. In this case, the person who has been that electronic payment instruments service provider is deemed to be an electronic payment instruments service provider within the scope of the purpose of completing the performance of obligations borne in relation to the electronic payment instruments services carried out before receiving the registration referred to in Article 63-22-2 or the registration of change referred to in Article 63-22-6, paragraph (1)63-2, and returning the users' property under the management relating to those electronic payment instruments services or transferring the property to users.

When an electronic payment instruments service provider (excluding one that engages only in the electronic payment instruments-related business) has received the registration referred to in Article 63-22-2 or the registration of change referred to in Article 63-22-6, paragraph (1)63-2, the notification under the provisions of Article 62-7, paragraph (4) to the effect that the electronic payment instruments service provider will not engage in the electronic payment instruments-related business is deemed to have been filed.

Chapter III-3 CryptoassetsElectronic Payment Instruments Intermediary Services

(Registration of Cryptoasset Exchange Electronic Payment Instruments Intermediary Service Providers)

NoA person may provide a cryptoasset exchange service unlessregistered by the Prime Minister may, notwithstanding the person is registered by the Prime Ministerprovisions of Article 62-3, provide electronic payment instruments intermediary services.

trade name, other name or name, and address;

amount in the case of capitala corporation, the name or other name of its officers (including, in the case of a foreign corporation, persons treated in the same manner under laws and regulations of a foreign state and its representative person in Japan; the same applies hereinafter in this Chapter);

name and location of the business office or office pertaining to the cryptoasset exchange serviceelectronic payment instruments intermediary services;

name of company director and company auditor (company director in cases of a company with audit and supervisory committee, etc.; company director and executive officer in casesthe case of a company with nominating committee, etc.; and persons equivalent thereto pursuant to laws and regulations of a foreign state in casescorporation, amount of a foreign cryptoasset exchange service provider)capital or contribution;

in casesname of a company with accounting advisors, names the electronic payment instrument handled and the trade name or name and address of accounting advisorsthe person that issues that electronic payment instrument;

in casestrade name of a foreign cryptoasset exchangethe electronic payment instruments service provider, name of from which entrustment is to be received (hereinafter referred to as the representative person "principal electronic payment instruments service provider" in Japanthis Chapter and Article 88, item (i));

name details and means of the cryptoasset to be usedelectronic payment instruments intermediary services;

if part of the electronic payment instruments intermediary services is entrusted to a third party, the details of the business pertaining to the entrustment and means the name or trade name or other name and address of the cryptoasset exchange servicethird party to whom the electronic payment instruments intermediary services are entrusted;

if parttype of the cryptoasset exchange service is entrusted to a third party, the details of the business pertaining to the entrustment andbusinesses, if the name or trade name orservice provider conducts other namebusinesses; and address of the third party to whom the cryptoasset exchange services are entrusted;

type of businesses, if the service provider conducts other businesses; andother particulars specified by Cabinet Office Order.

other particulars specified by Cabinet Office Order.

A document in which the applicant pledges that the applicant does not to fall under any of the items of Article 63-5, paragraph (1), documents concerning finance, documents containing particulars concerning the establishment of a system for ensuring the provision of the cryptoasset exchange serviceelectronic payment instruments intermediary services in a proper and steady manner, and other documents specified by Cabinet Office Order must be attached to the application for registration referred to in the preceding paragraph.

(Register of Cryptoasset Electronic Payment Instruments Intermediary Service Providers)

The Prime Minister must, when an application for registration referred to in Article 63-2 is filed, register the following particulars in the register of cryptoasset exchangeelectronic payment instruments intermediary service providers, except when refusing the registration pursuant to the provisions of paragraph (1) of the following Article:

The Prime Minister must make the register of cryptoasset exchangeelectronic payment instruments intermediary service providers available for public inspection.

a person other than a stock company or a foreign cryptoasset exchange service provider (limited to a foreign company that has a business office in Japan);who falls under any of the following:

a person that has not established a system for the provision of the electronic payment instruments intermediary services in a proper and steady manner;

a person that has not established a system necessary for ensuring compliance with the provisions of this Chapter;

a person for whom the principal electronic payment instruments service provider of the applicant has not joined a certified association for payment service providers;

a person that intends to use a trade name or name that is identical to the one currently being used by an electronic payment instruments service provider or another electronic payment instruments intermediary service provider, or a trade name or name that may be misidentified as any of these persons;

a person whose registration under Article 62-3 has been revoked pursuant to the provisions of Article 62-22, paragraph (1) or (2), whose registration under Article 63-2 has been revoked pursuant to the provisions of Article 63-20, paragraph (1) or (2), whose registration under Article 29 of the Financial Instruments and Exchange Act (limited to a registration for which the particulars listed in Article 29-2, paragraph (1), item (v) of that Act include business pertaining to the act listed in Article 28, paragraph (5), item (i) of that Act or cryptoasset, etc. management business) has been revoked pursuant to the provisions of Article 52, paragraph (1) or (4) of that Act, or whose registration under Article 66 of that Act (limited to a registration for which the particulars listed in Article 66-2, paragraph (1), item (iv) of that Act include the cryptoasset purchase and sale intermediary business, etc. prescribed in that item) has been revoked pursuant to the provisions of Article 66-20, paragraph (1) or (3) of that Act, or who has had a registration, permission or license of the same type held in a foreign state (including other administrative dispositions similar to that registration, permission or license) revoked pursuant to the provisions of laws and regulations of that foreign state equivalent to this Act, the Financial Instruments and Exchange Act or the Banking Act, etc., and for whom five years have not elapsed from the date of the revocation;

a person that has received an order to discontinue electronic payment instruments services pursuant to the provisions of Article 62-22, paragraph (1) as applied pursuant to Article 62-8, paragraph (2) following the deemed replacement of terms, or has received an order to discontinue the same type of services as electronic payment instruments services pursuant to the provisions of laws and regulations of a foreign state that are equivalent to this Act or the Banking Act, etc., and for whom five years have not elapsed from the date of those orders;

a person who has been punished by a fine (including a punishment under laws and regulations of a foreign state equivalent to this) for violating the provisions of this Act, the Financial Instruments and Exchange Act, the Banking Act, etc., the Act on Engagement in Trust Business by Financial Institutions, the Act Regulating the Receipt of Contributions, the Receipt of Deposits, and Interest Rates or the Trust Business Act, or laws and regulations of a foreign state equivalent thereto, and for whom five years have not elapsed from the day on which the execution of the sentence ended or from the day on which the sentence ceased to be executed;

a person whose other business is found to be contrary to the public interest;

a foreign cryptoasset exchange service provider that isin the case of a corporation who does not have, a representative person in Japan (limited to a person who is domiciled in Japan);who falls under any of the following:

a person that is a foreign corporation and has not specified a representative person in Japan (limited to a person who is domiciled in Japan);

a person with an officer who falls under any of the following:

a person specified by Cabinet Office Order as being unable to properly perform their duties pertaining to the electronic payment instruments intermediary services due to a mental or physical disorder;

a person who has not had their rights restored after receiving an order to commence bankruptcy proceedings, or a person equivalent thereto under laws and regulations of a foreign state;

a person who has been sentenced to imprisonment or heavier punishment (including equivalent punishment pursuant to laws and regulations of a foreign state), and for whom five years have not elapsed from the day on which the execution of the sentence ended or from the day on which the sentence ceased to be executed;

a person who falls under item (i), (g);

if a corporation that is an electronic payment instruments intermediary service provider had its registration referred to in Article 63-2 revoked pursuant to the provisions of Article 63-20, paragraph (1) or (2), or a corporation had its registration of the same type in a foreign state (including other administrative dispositions similar to the registration) revoked pursuant to the provisions of laws and regulations of the foreign state equivalent to this Act, a person who was an officer of the corporation at any time during the thirty days prior to the revocation date and for whom five years have not passed from that date, or a person specified by Cabinet Order as a person similar thereto;

a corporation lacking a sufficient financial foundation that satisfiesin the requirements specified by Cabinet Office Order as those found to be necessary for the provisioncase of an individual, a person who falls under any of the cryptoasset exchange service in a proper and steady manner;following:

a corporation that has not established a system that is necessary for the provision of the cryptoasset exchange service in a proper and steady manner;

a corporation that has not established a system that is necessary for ensuring compliance with the provisions of this Chapter;

a corporation that has not joined a certified association for payment service providers whose members (meaning the members specified in Article 87, item (ii)) are the cryptoasset exchange service providers and has not prepared internal rules that have contents equivalent to the articles of incorporation or other rules (limited to those concerning the protection of users of cryptoasset exchange services or the provision of cryptoasset exchange services in a proper and steady manner) of the certified association for payment service providers or has not established a system for ensuring compliance with those internal rules;

a corporation that intends to use a trade name that is identical to the one currently being used by another cryptoasset exchange service provider or that may be misidentified as another cryptoasset exchange service provider;

a corporation which had its registration referred to in Article 62-3 revoked pursuant to the provisions of Article 62-22, paragraph (1) or (2), had its registration referred to in Article 63-2 revoked pursuant to the provisions of Article 63-17, paragraph (1) or (2), had its registration referred to in Article 63-22-2 revoked pursuant to the provisions of Article 63-22-20, paragraph (1) or (2), or had the registration of the same type in a foreign state (including other administrative dispositions similar to the registration) revoked pursuant to the provisions of laws and regulations of the foreign state equivalent to this Act, and for which five years have not passed from the date of the revocation;

a corporation which received an order to discontinue electronic payment instruments services pursuant to the provisions of Article 62-22, paragraph (1) as applied pursuant to Article 62-8, paragraph (2) following the deemed replacement of terms, or received an order to discontinue the same type of services as electronic payment instruments services pursuant to the provisions of laws and regulations of a foreign state that are equivalent to this Act or the Banking Act, etc., and for which five years have not elapsed from the date of the order;

a corporation that has been punished by a fine (including a punishment pursuant to laws and regulations of a foreign state equivalent to this) for violating the provisions of this Act, the Financial Instruments and Exchange Act, the Act Regulating the Receipt of Contributions, the Receipt of Deposits, and Interest Rates or laws and regulations of a foreign state equivalent thereto, and for which five years have not elapsed from the day on which the execution of the sentence ended or from the day on which the sentence ceased to be executed;

a corporation conducting other business, which is found to be against the public interest;

a corporation that employs a person who is a company director, company auditor, executive officer, or accounting advisor (meaning a person equivalent thereto under laws and regulations of a foreign state or representative person in Japan in cases of a foreign cryptoasset exchange service provider; hereinafter referred to as a "company director, etc." in this Chapter) falling under any of the following items:

a person specified by Cabinet Office Order as being unable to properly perform their duties pertaining to cryptoasset exchange services due to a mental or physical disorder;

a person who has not had their rights restored after receiving an order to commence bankruptcy proceedings, or a person equivalent thereto pursuant to laws and regulations of a foreign state;

a person who has been sentenced to imprisonment or heavier punishment (including equivalent punishment pursuant to laws and regulations of a foreign state), and for whom five years have not elapsed from the day on which the execution of the sentence ended or from the day on which the sentence ceased to be executed;

a person who has been punished by a fine (including a punishment under laws and regulations of a foreign state equivalent to this) for violating the provisions of this Act, the Financial Instruments and Exchange Act, the Act Regulating the Receipt of Contributions, the Receipt of Deposits, and Interest Rates, the Act on Prevention of Unjust Acts by Organized Crime Group Members or laws and regulations of a foreign state equivalent thereto, and for whom five years have not elapsed from the day on which the execution of the sentence ended or from the day on which the sentence ceased to be executed;

if a cryptoasset exchange service provider had its registration referred to in Article 63-2 revoked pursuant to the provisions of Article 63-17, paragraph (1) or (2), or a corporation had the registration of the same type in a foreign state (including other administrative dispositions similar to the registration) revoked pursuant to the provisions of laws and regulations of the foreign state equivalent to this Act, a person who was a company director, etc. of the corporation at any time during the thirty days prior to the date of the revocation and for whom five years have not elapsed from the relevant date or a person specified by Cabinet Order as similar thereto.

a person who is an individual domiciled in a foreign state and has not specified an agent in Japan;

a person who falls under item (ii), (b), any of (1) through (3) or (5);

a minor who does not have the same legal capacity as an adult with regard to the electronic payment instruments intermediary services, whose legal representative (including, if the legal representative is a corporation, its officers) falls under any of item (ii), (b), (1) through (5).

When a cryptoasset exchange an electronic payment instruments intermediary service provider intends to change any of the particulars set forth in Article 63-3, paragraph (1), item (vii) or (viiiitems (v) through (vii) (excluding cases specified by Cabinet Office Order as being less likely to weaken the protection of users of cryptoasset exchange electronic payment instruments intermediary services or hinder the provision of cryptoasset exchange electronic payment instruments intermediary services in a proper and steady manner), the cryptoasset exchangeelectronic payment instruments intermediary service provider must notify the Prime Minister to that effect in advance.

If any of the particulars set forth in the items of Article 63-3, paragraph (1) (excluding the case in which a notification has been filed under the provisions of the preceding paragraph) , the case in which a notification has been filed under the provisions of Article 63-22-2, paragraph (1), a case that falls under any of the items of paragraph (2) of that Article, and a case that falls under paragraph (3), item (ii) of that Article) are changed, the cryptoasset exchangeelectronic payment instruments intermediary service provider must notify the Prime Minister to that effect without delay.

If the Prime Minister accepts a notification under the provisions of the preceding two paragraphs, the Minister must register the particulars of the notification in the register of cryptoasset exchangeelectronic payment instruments intermediary service providers.

A cryptoasset exchange An electronic payment instruments intermediary service provider must not have another person provide the cryptoasset exchange service electronic payment instruments intermediary services in the name of the cryptoasset exchangeelectronic payment instruments intermediary service provider.

(Information Security Management)Clear Indication of Trade Name, etc.

A cryptoasset exchange service provider must, pursuant to the provisions of Cabinet Office Order, take necessary measures for preventing leakage, loss, or damage to information pertaining toWhen an electronic payment instruments intermediary service provider intends to perform electronic payment instruments intermediary acts, it must clarify the cryptoasset exchange services and other measures for the security management of relevant information.following particulars to users in advance:

trade name of the principal electronic payment instruments service provider;

the fact that it has no authority to represent the principal electronic payment instruments service provider;

the purport of the provisions of Article 63-13; and

other particulars specified by Cabinet Office Order.

(Guidance of Entrusted Parties)Restrictions on Electronic Payment Instruments Intermediary Service Providers

If a cryptoasset exchange An electronic payment instruments intermediary service provider entrusts (including cases under multi-tier entrustment arrangements) partmust not perform, with users of the cryptoasset exchange electronic payment instruments intermediary services to a third it provides as the other party, any of the cryptoasset exchange service provider must provide guidance to the third party to whom the relevant business has been acts set forth in the items of Article 2, paragraph (10) other than electronic payment instruments intermediary acts performed as entrusted and take other measures necessary for ensuring by the principal electronic payment instruments service provider (excluding the operation act set forth in item (iv) of the business in a proper and steady manner pursuant to the provisions of Cabinet Office Orderthat paragraph performed where that electronic payment instruments intermediary service provider is an electronic payment instruments service provider).

When a cryptoasset exchange service provider places an advertisement concerning the cryptoasset exchange service provided by it, the cryptoasset exchange service provider must indicate the following particulars, pursuant to the provisions of Cabinet Office Order:

the trade name of the cryptoasset exchange service provider;

the fact that it is a cryptoasset exchange service provider and its registration number;

the fact that cryptoassets are not the Japanese currency or a foreign currency; and

the characteristics of cryptoassets specified by Cabinet Office Order as material characteristics that will affect users' judgment.

A cryptoasset exchange service provider or its officer or employee must not engage in the following conduct:

when concluding a contract for engaging in any acts set forth in the items of Article 2, paragraph (15) with a user of cryptoasset exchange service that is a counterparty or soliciting the conclusion thereof (referred to as the "conclusion, etc. of a cryptoasset exchange contract" in item (iii)), make a false representation or other representation which may mislead the counterparty with regard to the characteristics of cryptoassets and other particulars specified by Cabinet Office Order (referred to as the "characteristics, etc. of cryptoassets" in the following item);

when placing an advertisement concerning the cryptoasset exchange service provided by it, give a false representation or other representation which may mislead people with regard to the characteristics, etc. of cryptoassets;

when concluding a cryptoasset exchange contract, etc. or lacing an advertisement concerning the cryptoasset exchange service provided by it, make a representation which may facilitate purchase and sale of a cryptoasset or exchange with another cryptoasset not for the purpose of using them as payment instruments but solely for making profits; and

beyond what is set forth in the preceding three items, any conduct specified by Cabinet Office Order as being likely to weaken the protection of users of cryptoasset exchange services or hinder the provision of cryptoasset exchange services in a proper and steady manner.

(Measures for Customer Protection)Information Security Management

A cryptoasset exchange An electronic payment instruments intermediary service provider must, pursuant to the provisions of Cabinet Office Order, provide explanation concerning the characteristics of cryptoassets, and information about fees and other terms and conditions of contractstake necessary measures for preventing leakage, loss, or damage to information pertaining to the cryptoasset exchange service, and take electronic payment instruments intermediary services and other measures necessary for protecting the users of cryptoasset exchange services and ensuring the provisionsecurity management of the cryptoasset exchange services in a proper and steady mannerrelevant information.

When a cryptoasset exchange service provider exchanges cryptoassets, etc. by granting credit to the user of cryptoasset exchange service, the cryptoasset exchange service provider must provide information on the terms and conditions of contracts pertaining to exchange of cryptoassets, etc. and other measures necessary for protecting the users of business pertaining to exchange of cryptoassets, etc. and ensuring the operation of the business in a proper and steady manner, in addition to the measures prescribed in the preceding paragraph, pursuant to the provisions of Cabinet Office Order.

(ManagementGuidance of Users' Property)Entrusted Parties

A cryptoasset exchange If an electronic payment instruments intermediary service provider must, in connection with its cryptoasset exchange entrusts (including the case under multi-tier entrustment arrangements) part of the electronic payment instruments intermediary services, manage to a third party, the money of electronic payment instruments intermediary service provider must provide guidance to the users of cryptoasset exchange services separately from its own moneythird party to whom the relevant business has been entrusted and entrust take other measures necessary for ensuring the users' money with a trust company, etc.,operation of the business in a proper and steady manner pursuant to the provisions of Cabinet Office Order.

A cryptoasset exchange service provider must, in connection with its cryptoasset exchange services, manage the cryptoassets of the users of the cryptoasset exchange services separately from its own cryptoassets, pursuant to the provisions of Cabinet Office Order. In this case, the cryptoasset exchange service provider must manage users' cryptoassets (excluding cryptoassets that satisfy the requirements specified by Cabinet Office Order as being necessary for ensuring the convenience of users and achieving smooth provision of cryptoasset exchange services) by the method specified by Cabinet Office Order as being less likely to weaken the protection of users.

A cryptoasset exchange service provider must, pursuant to the provisions of Cabinet Office Order, undergo a periodic audit by a certified public accountant or by an audit corporation, with regard to the state of management under the provisions of the preceding two paragraphs.

A cryptoasset exchange service provider must hold cryptoassets of the same type and same volume as the cryptoassets that satisfy the requirements specified by Cabinet Office Order prescribed in paragraph (2) of the preceding Article (hereinafter referred to as the "performance-guarantee cryptoassets" in this paragraph and Article 63-19-2, paragraph (1)) as its own cryptoassets and manage them separately from its own cryptoassets other than the performance-guarantee cryptoassets, pursuant to the provisions of Cabinet Office Order. In this case, the cryptoasset exchange service provider must manage the performance-guarantee cryptoassets by the method specified by Cabinet Office Order as being less likely to weaken the protection of users.

The provisions of paragraph (3) of the preceding Article apply mutatis mutandis to the status of the management under the provisions of the preceding paragraph.

(Obligation to Conclude Contract with Designated Dispute Resolution OrganizationsMeasures for Cryptoasset Exchange Business)Protecting Users

A cryptoasset exchange An electronic payment instruments intermediary service provider must take , pursuant to the measures provisions of Cabinet Office Order, provide explanation to prevent users from mistaking the business pertaining to electronic payment instruments intermediary acts for business carried out by a deposit-taking institution, a funds transfer service provider or a specified in trust company, provide information about details of electronic payment instruments, fees and other terms and conditions of contracts related to the following items according business pertaining to electronic payment instruments intermediary acts, and take other measures necessary for protecting the users of the business pertaining to electronic payment instruments intermediary acts and ensuring the categoriesoperation of cases prescribed therein:the business pertaining to electronic payment instruments intermediary acts in a proper and steady manner.

if one or more designated dispute resolution organizations for cryptoasset exchange business (meaning designated dispute resolution organizations of which type of dispute resolution services is cryptoasset exchange business; hereinafter the same applies in this Article) exist:measures to conclude a basic contract for execution of procedures with a designated dispute resolution organization for cryptoasset exchange business (meaning a basic contract for execution of procedures prescribed in Article 99, paragraph (1), item (viii); the same applies in the following paragraph) pertaining to the cryptoasset exchange service; or

if no designated dispute resolution organization for cryptoasset exchange business exists:complaint processing measures and dispute resolution measures pertaining to the cryptoasset exchange service.

If a cryptoasset exchange service provider implements measures to conclude a basic contract for execution of procedures pursuant to the provisions of the preceding paragraph, the cryptoasset exchange service provider must announce the trade name or other name of the designated dispute resolution organization for cryptoasset exchange business that is the counterparty to the basic contract for execution of procedures.

The provisions of paragraph (1) do not apply during the period specified in the following items for the respective categories of cases prescribed therein:

if a cryptoasset exchange service provider who fell under the case set forth in paragraph (1), item (i) when the cryptoasset exchange service provider falls under the case set forth in paragraph (1), item (ii):a period specified by the Prime Minister as the period necessary for taking measures specified in paragraph (1), item (ii) when authorization is granted for the discontinuation of the dispute resolution services referred to in Article 52-83, paragraph (1) of the Banking Act as applied mutatis mutandis pursuant to Article 101, paragraph (1) following the deemed replacement of terms or when the designation is revoked pursuant to the provisions of Article 100, paragraph (1);

if a cryptoasset exchange service provider who falls under the case set forth in paragraph (1), item (i), when authorization is granted for the discontinuation of the dispute resolution services provided by the designated dispute resolution organization for cryptoasset exchange business referred to in that item pursuant to the provision of Article 52-83, paragraph (1) of the Banking Act as applied mutatis mutandis pursuant to Article 101, paragraph (1) following the deemed replacement of terms or when the designation under the provisions of Article 99, paragraph (1) of the designated dispute resolution organization for cryptoasset exchange business referred to in that item is revoked pursuant to the provisions of Article 100, paragraph (1) (excluding the case specified in the preceding item):a period specified by the Prime Minister as the period necessary for taking measures specified in paragraph (1), item (i) when the authorization is granted or the designation is revoked; or

if a cryptoasset exchange service provider falls under the case set forth in paragraph (1), item (ii), when the cryptoasset exchange service provider falls under the case set forth in paragraph (1), item (i):a period specified by the Prime Minister as the period necessary for taking measures specified in paragraph (1), item (i) when designated pursuant to the provisions of Article 99, paragraph (1).

The term "complaint processing measures" as used in paragraph (1), item (ii) means to have a person specified by Cabinet Office Order as one who has expert knowledge and experience with regard to consultation regarding complaints on consumer affairs that the consumer made against the service provider or in other areas of consumer affairs to engage in the provision of advice or guidance to employees or other workers who engage in the business of processing complaints from the users or any other measures specified by Cabinet Office Order as similar thereto.

The term "dispute resolution measures" as used in paragraph (1), item (ii) means to seek resolution of a dispute with the user through the authorized dispute resolution procedures or any other measures specified by Cabinet Office Order as similar thereto.

(Books of Accounts and Documents)Prohibition on Depositing Money

A cryptoasset exchange An electronic payment instruments intermediary service provider must, pursuant to not, regardless of the provisions of Cabinet Office Order, prepare and maintainname under which it is done, in connection with the books electronic payment instruments intermediary services it provides, receive a deposit of accounts and documents on its cryptoasset exchange businessmoney or other property from users, or have users' money or other property deposited with a person specified by Cabinet Order as a person having a close relationship with the electronic payment instruments intermediary service provider.

(Written Reports)Liability of Principal Electronic Payment Instruments Service Provider to Compensate

A cryptoasset exchange principal electronic payment instruments service provider must, pursuant that has entrusted electronic payment instruments intermediary acts is liable to compensate for any loss or damage inflicted on users by the provisions of Cabinet Office Order, prepare a written report on its cryptoasset exchange business for each business year electronic payment instruments intermediary service provider to which it has entrusted them in connection with those electronic payment instruments intermediary acts; provided, however, that this does not apply if the principal electronic payment instruments service provider has exercised reasonable care in entrusting the electronic payment instruments intermediary service provider and submit ithas endeavored to prevent the Prime Ministeroccurrence of loss or damage inflicted on users in connection with the electronic payment instruments intermediary acts carried out by that person.

In addition to the written reports specified in the preceding paragraph, a cryptoasset exchange service provider (limited to one who engages in the act set forth in Article 2, paragraph (15), item (iii) or (iv)) must, pursuant to the provisions of Cabinet Office Order, prepare a written report on the amount of users' money and the volumes of users' cryptoassets under the management in connection with the cryptoasset exchange services and other particulars concerning the management of these amounts for each period specified by Cabinet Office Order, and submit it to the Prime Minister.

Documents concerning finance, an audit report prepared by a certified public accountant or audit corporation regarding these documents, and other documents specified by Cabinet Office Order must be attached to the written report referred to in paragraph (1).

Documents proving the amount of users' money and the volumes of users' cryptoassets under the management in connection with the cryptoasset exchange services and other documents specified by Cabinet Office Order must be attached to the written report referred to in paragraph (2).

(On-Site Inspections)Application Mutatis Mutandis of the Financial Instruments and Exchange Act

When the Prime Minister finds it necessary for The provisions of Article 37, Article 37-3, paragraphs (1) and (2), Article 37-4, Article 37-6, paragraph (3) and the proper main clause of paragraph (4), Article 38 (excluding items (vii) and secure conduct (viii)) and Article 40 of the cryptoasset exchange service, the Minister may order a cryptoasset exchange Financial Instruments and Exchange Act apply mutatis mutandis to an electronic payment instruments intermediary service provider that engages in the business pertaining to submit reports or materials that will be helpful electronic payment instruments intermediary acts relating to the specified contract for understanding its business or property, electronic payment instruments transaction prescribed in Article 62-17, paragraph (1). In this case, the terms or have officials enterphrases listed in the business office middle column of the following table in the provisions of that Act listed in the left-hand column of the table are deemed to be replaced with the respective terms or phrases listed in the right-hand column of the table, and any other facility necessary technical replacement of terms is specified by Cabinet Order. Article 37, paragraph (1), item (iii) customer user Article 37, paragraph (2) an act that cryptoasset exchange constitutes a financial instruments transaction the conclusion of a specified contract for electronic payment instruments transaction (meaning the specified contract for electronic payment instruments transaction prescribed in Article 62-17, paragraph (1) of the Payment Services Act; the same applies hereinafter) Article 37-3, paragraph (1) intends to conclude intermediates the conclusion of to the customer to the user Article 37-3, paragraph (1), item (i) the trade name the trade name of the provider and of its principal electronic payment instruments service provider, ask questions about (meaning the principal electronic payment instruments service provider prescribed in Article 63-3, paragraph (1), item (vi) of the status Payment Services Act; the same applies in Article 37-6, paragraph (3)) Article 37-3, paragraph (1), item (iv) customer user Article 37-3, paragraph (1), item (v) customer user an act that constitutes a financial instruments transaction carried out a specified contract for electronic payment instruments transaction concluded money rate, the value of its business or property currencies, quotations on the financial instruments market value of currencies Article 37-3, paragraph (1), items (vi) and (vii) customer user Article 37-3, paragraph (2) to the customer to the user of the customer of the user customer attributes" user attributes" Article 37-3, paragraph (2), proviso customer attributes user attributes the customer the user Article 37-4 customer user Article 37-6, paragraph (3) in the case where a financial instruments transaction contract is cancelled pursuant to the provisions of paragraph (1) in the case where, in connection with the cancellation of a specified contract for electronic payment instruments transaction at the request of a user, damages or inspect its books other money has been paid to the principal electronic payment instruments service provider exceeding the amount specified by Cabinet Office Order as the amount of fees, remuneration and documents other consideration to be paid by the customer in relation to the financial instruments transaction contract that corresponds to the period until the cancellation of the financial instruments transaction contract (referred to as "consideration" in the following paragraph), the cancellation of the financial instruments transaction contract payment or the payment of penalties the payment of other money to the person who made the cancellation, Article 37-6, paragraph (4) pursuant to the provisions of paragraph (1) at the request of the user customer user Article 38, item (i) or the solicitation thereof the intermediation or solicitation thereof customer user Article 38, items. (ii) through (vi) customer user Article 40, item (i) an act that constitutes a financial instruments transaction the conclusion of a specified contract for electronic payment instruments transaction customer user Article 40, item (ii) customer user

When the Prime Minister finds it particularly necessary for the provision of the cryptoasset exchange service in a proper and steady manner, the Minister may, to the extent necessary for this, order a person to whom business has been entrusted by the cryptoasset exchange service provider (including persons to whom the service has been entrusted by the entrusted person (including those under multi-tier entrustment arrangements); hereinafter the same applies in this Article) to submit reports or materials that can be used as reference for the business or property of that cryptoasset exchange service provider, or have officials enter the facility of the person to whom business has been entrusted by that cryptoasset exchange service provider, ask questions about the status of its business or the property of that cryptoasset exchange service provider or inspect its books and documents or other items.

A person to whom business has been entrusted by a cryptoasset exchange service provider referred to in the preceding paragraph may refuse the submission of reports or materials, or the questions or inspection referred to in that paragraph if there are reasonable grounds for doing so.

(Order to Improve Business Operations)Books and Documents

When the Prime Minister finds it necessary for the provision of the cryptoasset exchangeAn electronic payment instruments intermediary service in a proper and steady manner, the Minister may,provider must, pursuant to the extent necessary for this, order a cryptoasset exchange service provider to take necessary measures to improve the operation of its business orprovisions of Cabinet Office Order, prepare and maintain books and documents on its financial status or take other measures necessary for the supervisionelectronic payment instruments intermediary services.

If the Prime Minister finds it necessary and appropriate for the public interest or the protection of users, the Prime Minister may order a cryptoasset exchange service provider to hold, within Japan, the part of its assets specified by Cabinet Order.

(Revocation of Registration)Written Reports

If a cryptoasset exchange An electronic payment instruments intermediary service provider falls under any of the following items, the Prime Minister may revoke its registration referredmust, pursuant to in Article 63-2 or order the cryptoasset exchange service provider to suspend all or part of its cryptoasset exchange service, specifying a period of suspension not exceeding six months:the provisions of Cabinet Office Order, prepare a written report on its electronic payment instruments intermediary services for each business year and submit it to the Prime Minister.

the cryptoasset exchange service provider falls under any of the items of Article 63-5, paragraph (1);

the cryptoasset exchange service provider referred to in Article 63-2 has been registered through wrongful means; or

the cryptoasset exchange service provider violates this Act or an order under this Act, or a disposition under this Act or an order.

If the Prime Minister is unable to ascertain the locations of business offices of a cryptoasset exchange service provider or the whereabouts of the company director or executive officer representing the cryptoasset exchange service provider (in cases of a cryptoasset exchange service provider that is a foreign cryptoasset exchange service provider, the representative person in Japan), the Prime Minister, pursuant to the provisions of Cabinet Office Order, may issue public notice of that fact and revoke the registration of the cryptoasset exchange service provider under Article 63-2 if no application is made by the service provider after thirty days have passed since the day of the public notice.

The provisions of Chapter III of the Administrative Procedure Act do not apply to disposition under the provisions of the preceding paragraph.

(Deletion of Registration)On-Site Inspections

IfWhen the Prime Minister revokes finds it necessary for the registration referred to provision of the electronic payment instruments intermediary services in Article 63-2 pursuant to provisions of paragraph (1) a proper and steady manner, the Minister may order an electronic payment instruments intermediary service provider to submit reports or (2) of the preceding Article materials that can be used as reference for its business or when property, or have officials enter the registration referred to in Article 63-2 ceases to be effective pursuant to business offices, offices or other facilities of the electronic payment instruments intermediary service provider, ask questions about the provisionsstatus of Article 63-20, paragraph (2)its business or property or (8), the Minister must delete the registrationinspect its books and documents or other items.

When the Prime Minister finds it particularly necessary for the provision of the electronic payment instruments intermediary services in a proper and steady manner, the Minister may, to the extent necessary for this, order a person to whom business has been entrusted by the electronic payment instruments intermediary service provider (including persons to whom the business has been entrusted by the entrusted person (including those under multi-tier entrustment arrangements); hereinafter the same applies in this Article) to submit reports or materials that can be used as reference for the status of the business or property of the electronic payment instruments intermediary service provider, or have officials enter the facility of the person to whom business has been entrusted by the electronic payment instruments intermediary service provider, ask questions about the status of the business or property of the electronic payment instruments intermediary service provider or inspect its books and documents or other items.

A person to whom business has been entrusted by the electronic payment instruments intermediary service provider referred to in the preceding paragraph may refuse the submission of reports or materials, or the questions or inspection referred to in that paragraph if there are reasonable grounds for doing so.

(Public Notice of Supervisory Dispositions)Order to Improve Business Operations

IfWhen the Prime Minister implements a disposition pursuant tofinds it necessary for the provisionsprovision of Article 63-17, paragraph (1) or (2)the electronic payment instruments intermediary services in a proper and steady manner, the Minister must give public notice may, to the extent necessary for this, order an electronic payment instruments intermediary service provider to that effect pursuanttake necessary measures to improve the provisionsoperation of Cabinet Office Orderits business or its financial status or take other measures necessary for the supervision.

(Notification of DiscontinuationRevocation of Business)Registration

If a cryptoasset exchange an electronic payment instruments intermediary service provider falls under any of the following items, it must notify the Prime Minister may revoke its registration referred to in Article 63-2 or order the Prime Minister electronic payment instruments intermediary service provider to that effect without delaysuspend all or part of its electronic payment instruments intermediary services, specifying a period of suspension not exceeding six months:

the cryptoasset exchange electronic payment instruments intermediary service provider discontinues all or partfalls under any of the cryptoasset exchange service; oritems of Article 63-5, paragraph (1);

a petition for commencement of bankruptcy proceedings, etc. is filed against a cryptoasset exchange service provider.the electronic payment instruments intermediary service provider has obtained the registration referred to in Article 63-2 through wrongful means; or

the electronic payment instruments intermediary service provider violates this Act or an order under this Act, or a disposition under this Act or an order.

If a cryptoasset exchange service provider discontinues all ofthe Prime Minister is unable to ascertain the cryptoasset exchange service, the registration locations of business offices or offices of the cryptoasset exchange an electronic payment instruments intermediary service provider referred to in Article 63-2 ceases to be effective. In this case, a person who has beenor the whereabouts of the electronic payment instruments intermediary service provider (if it is a corporation, the whereabouts of the cryptoasset exchange service provider is deemed to beofficer representing the corporation (in the case of a cryptoasset exchange service provider within the scope offoreign corporation, the representative person in Japan)), the purpose of completing Prime Minister, pursuant to the performanceprovisions of obligations borne by the service provider in relation to Cabinet Office Order, may issue public notice of that fact and revoke the exchangeregistration of cryptoassets, etc. carried out by it, and returning the users' property under the management relating tothe electronic payment instruments intermediary service provider under Article 63-2 if no application is made by the cryptoasset exchange services carried out by it or transferring electronic payment instruments intermediary service provider after thirty days have passed since the property to usersday of the public notice.

If a cryptoasset exchange service provider intends to discontinue all or part of the cryptoasset exchange service, to transfer all or partThe provisions of the cryptoasset exchange service, to implement a merger (limited to a merger in which the cryptoasset exchange service provider disappears), to dissolve for reasons other than a merger or an order to commence bankruptcy proceedings, or to have another service provider succeed all or partChapter III of the cryptoasset exchange services due to a company split, it must give public notice to that effect at least thirty days priorAdministrative Procedure Act do not apply to the relevant date and post a notice thereof in a place easily seen by the public at all of its business offices, pursuant todisposition under the provisions of Cabinet Office Orderthe preceding paragraph.

Having given public notice pursuant to the provisions of the preceding paragraph, a cryptoasset exchange service provider must notify the Prime Minister to that effect immediately.

Having given public notice pursuant to the provisions of paragraph (3) (excluding cases where a cryptoasset exchange service provider has given public notice concerning the succession of the relevant business by way of transfer of business, merger or company split, or for other reasons), it must promptly complete the performance of obligations borne by it in relation to the exchange of cryptoassets, etc. carried out in the course of the cryptoasset exchange services that it intends to discontinue, and promptly return the users' property under the management relating to the cryptoasset exchange services or transfer the property to users.

The provisions of Article 940, paragraph (1) (limited to the part pertaining to item (i)) and Article 940, paragraph (3) of the Companies Act apply mutatis mutandis to cases where a cryptoasset exchange service provider (excluding a foreign cryptoasset exchange service provider) gives public notice under the provisions of paragraph (3) by way of electronic public notice (meaning electronic public notice specified in Article 2, item (xxxiv) of that Act; the same applies in the following paragraph). In this case, any necessary technical replacement of terms is specified by Cabinet Order.

The provisions of Article 940, paragraph (1) (limited to the part pertaining to item (i)) and Article 940, paragraph (3), Article 941, Article 946, Article 947, Article 951, paragraph (2), Article 953, and Article 955 of the Companies Act apply mutatis mutandis to cases where a cryptoasset exchange service provider that is a foreign cryptoasset exchange service provider gives public notice under the provisions of paragraph (3) by way of electronic public notice. In this case, any necessary technical replacement of terms is specified by Cabinet Order.

When a cryptoasset exchange service provider has received the registration referred to in Article 63-22-2 (limited to a registration in which the particulars set forth in Article 63-22-3, paragraph (1), item (v) include business pertaining to a cryptoasset intermediary act; hereinafter the same in this paragraph) or the registration of change referred to in Article 63-22-6, paragraph (1) (limited to one resulting from newly intending to engage in business pertaining to a cryptoasset intermediary act; hereinafter the same in this paragraph), the registration of that cryptoasset exchange service provider referred to in Article 63-2 ceases to be effective. In this case, the person who has been that cryptoasset exchange service provider is deemed to be a cryptoasset exchange service provider within the scope of the purpose of completing the performance of obligations borne in relation to the exchange of cryptoassets, etc. carried out before receiving the registration referred to in Article 63-22-2 or the registration of change referred to in Article 63-22-6, paragraph (1), and returning the users' property under the management relating to the cryptoasset exchange services carried out before receiving those registrations or transferring the property to users.

(Completion of Performance of Obligations Due to RevocationDeletion of Registration)

With regard to a cryptoasset exchange service provider, whenIf the Prime Minister revokes the registration referred to in Article 63-2 has been revoked pursuant to the provisions of Article 63-17, paragraph (1) or (2) (excluding cases specified by Cabinet Office Order as being less likely to weaken the protection of users of cryptoasset exchange services or hinder the provision of cryptoasset exchange services in a proper and steady manner), the person who has been the cryptoasset exchange service provider must promptly complete the performance of obligations borne by it in relation to the exchange of cryptoassets, etc. carried out by it, and promptly return the users' property under the management relating to the cryptoasset exchange servicespreceding Article or transfer the property to users. In this case,when the person who has been the cryptoasset exchange service provider is deemedregistration referred to in Article 63-2 ceases to be a cryptoasset exchange service provider within the scope of the purpose of completingeffective pursuant to the performanceprovisions of these obligations, and returningArticle 63-22-2, paragraph (3), the property or transferringMinister must delete the property to usersregistration.

(Prohibition on Solicitation by Foreign Cryptoasset Exchange Service Providers)Public Notice of Supervisory Dispositions

A unregistered foreign cryptoasset exchange service provider referredIf the Prime Minister implements a disposition pursuant to in the provisions of Article 63-2 must not engage in acts of solicitation of a person in Japan set forth in63-20, paragraph (1) or (2), the Minister must give public notice to that effect pursuant to the itemsprovisions of Article 2, paragraph (15)Cabinet Office Order.

Chapter III-4 Electronic Payment Instruments and Cryptoasset Intermediary Services

Section 1 General Provisions

A person who has concluded a contract for the management of cryptoassets with a cryptoasset exchange service provider has the right to receive, in preference over other creditors, payments with regard to a claim for the transfer of cryptoassets that the person holds against the cryptoasset exchange service provider, for the return of the regulated cryptoassets (meaning the cryptoassets of the users of the cryptoasset exchange services that the cryptoasset exchange service provider manages separately from its own cryptoassets pursuant to the provisions of Article 63-11, paragraph (2) and the performance-guarantee cryptoassets).

The provisions of Article 333 of the Civil Code apply mutatis mutandis to the right referred to in the preceding paragraph.

Particulars necessary for the fulfillment of the right prescribed in paragraph (1) are specified by Cabinet Order.

If a person to whom a cryptoasset exchange service has been entrusted by a cryptoasset exchange service provider or any other related person of the cryptoasset exchange service provider is requested by the Prime Minister to extend their cooperation necessary for the fulfillment of the right referred to in paragraph (1) of the preceding Article pertaining to users' cryptoassets managed by the person in relation to the cryptoasset exchange service provided by the cryptoasset exchange service provider, the person is to endeavor to respond to the request.

RegistrationNotification of Electronic Payment Instruments and Cryptoasset Intermediary Service ProvidersDiscontinuation of Business

Notwithstanding If an electronic payment instruments intermediary service provider intends to discontinue all of the provisions electronic payment instruments intermediary services, to transfer all of Article 62-3 and Article 63-2, a person registered by the Prime Minister may providethe electronic payment instruments intermediary services, to implement a merger (limited to a merger in which the electronic payment instruments and cryptoasset intermediary service provider disappears), to dissolve for reasons other than a merger or an order to commence bankruptcy proceedings, or to have another person succeed all of the electronic payment instruments intermediary services due to a company split, it must notify the Prime Minister to that effect in advance.

If an electronic payment instruments intermediary service provider comes to fall under any of the cases set forth in the following items, the person specified in the relevant item must, without delay, notify the Prime Minister to that effect.

when the provider discontinues part of its electronic payment instruments intermediary services, transfers part of its electronic payment instruments intermediary services, or has part of its electronic payment instruments intermediary services succeeded to by a company split:the individual or corporation that discontinued those electronic payment instruments intermediary services, transferred them, or caused them to be succeeded to;

when an individual who is an electronic payment instruments intermediary service provider dies:the heir of that individual; or

when an order to commence bankruptcy proceedings is made with respect to a corporation that is an electronic payment instruments intermediary service provider:the bankruptcy trustee of that corporation.

If an electronic payment instruments intermediary service provider falls under any of the following items, the registration of that electronic payment instruments intermediary service provider under Article 63-2 ceases to be effective. In this case, the person who was that electronic payment instruments intermediary service provider is still deemed to be an electronic payment instruments intermediary service provider within the scope of the purpose of completing the performance of the obligations it bears in connection with the electronic payment instruments intermediary services it conducts.

when the provider has made a notification under paragraph (1) or comes to fall under either of the cases set forth in item (ii) or (iii) of the preceding paragraph; or

when the provider comes to fall under any of the following:

when it has obtained the registration under Article 62-3 (limited to a registration in which the particulars set forth in Article 62-4, paragraph (1), item (vii) include electronic payment instruments-related business) or the registration of change under Article 62-7, paragraph (1) (limited to one resulting from seeking to newly conduct electronic payment instruments-related business); or

when there is no longer a principal electronic payment instruments service provider.

Application forCompletion of Performance of Obligations Due to Revocation of Registration

Pursuant toIf the provisions registration under Article 63-2 of an electronic payment instruments intermediary service provider is revoked pursuant to Article 63-20, paragraph (1) or (2) (excluding cases specified by Cabinet Office Order, a as those in which there is little risk of failing to protect the users of electronic payment instruments intermediary services or of hindering the proper and steady performance of electronic payment instruments intermediary services), the person who intends to be registered referred to was that electronic payment instruments intermediary service provider must promptly complete the performance of the obligations it bears in connection with the preceding Article must submit a written application for registration containingelectronic payment instruments intermediary services it conducts. In this case, the following particulars person who was that electronic payment instruments intermediary service provider is still deemed to be an electronic payment instruments intermediary service provider within the Prime Minister:scope of the purpose of completing the performance of those obligations.

trade name, other name or name, and address;

in cases of a corporation, the name or other name of its officers (including, in cases of a foreign corporation, persons treated in the same manner under laws and regulations of a foreign state and the representative person in Japan; the same applies hereinafter in this Chapter);

name and location of business offices or offices pertaining to the electronic payment instruments and cryptoasset intermediary services;

in cases of a corporation, the amount of capital or contribution;

categories of electronic payment instruments and cryptoasset intermediary services (meaning the categories of business pertaining to the acts set forth in the items of Article 2, paragraph (18); the same applies in Article 63-22-6, paragraph (1), Article 63-22-24, paragraph (2) and Article 107, item (xiv));

the particulars specified in (a) or (b), depending on the category of cases set forth in (a) or (b):

if the applicant carries out electronic payment instruments intermediary acts: the name of the electronic payment instrument handled and the trade name or name and address of the person that issues the electronic payment instrument;

if the applicant carries out cryptoasset intermediary acts: the name of the cryptoasset handled;

the particulars specified in (a) or (b), depending on the category of cases set forth in (a) or (b):

if the applicant carries out electronic payment instruments intermediary acts: the trade name of the electronic payment instruments service provider from which the applicant receives entrustment (hereinafter referred to as the "principal electronic payment instruments service provider" in this Chapter);

if the applicant carries out cryptoasset intermediary acts: the trade name of the cryptoasset exchange service provider from which the applicant receives entrustment (hereinafter referred to as the "principal cryptoasset exchange service provider" in this Chapter);

details and means of the electronic payment instruments and cryptoasset intermediary services;

if part of the electronic payment instruments and cryptoasset intermediary services is entrusted to a third party, the details of the business pertaining to the entrustment and the name or trade name or other name and address of the third party to whom the electronic payment instruments and cryptoasset intermediary services are entrusted;

type of businesses, if the service provider conducts other businesses; and

other particulars specified by Cabinet Office Order.

A document in which the applicant pledges that the applicant does not fall under any of the items of Article 63-22-5, paragraph (1), documents containing particulars concerning the establishment of a system for ensuring the provision of the electronic payment instruments and cryptoasset intermediary services in a proper and steady manner, and other documents specified by Cabinet Office Order must be attached to the written application for registration referred to in the preceding paragraph.

RegisterProhibition of Solicitation by Foreign Electronic Payment Instruments and Cryptoasset Intermediary Service Providers

The Prime Minister must, when an application for registration referred to in Article 63-22-2 is filed, register the following particularsA foreign electronic payment instruments intermediary service provider that is not registered under Article 63-2 must not engage in the registeracts of electronic payment instruments and cryptoasset intermediary service providers, except when refusing the registration pursuantsolicitation of a person in Japan with regard to the provisions of paragraph (1) of the following Article:electronic payment instruments intermediary acts or acts equivalent thereto.

particulars set forth under the items of paragraph (1) of the preceding Article;

date of registration and registration number.

If the Prime Minister registers the particulars under the provisions of the preceding paragraph, the Minister must notify the applicant to that effect without delay.

The Prime Minister must make the register of electronic payment instruments and cryptoasset intermediary service providers available for public inspection.

The Prime Minister must refuse registration when an applicant falls under any of the following items, or a written application for registration or its accompanying documents contain a false statement about important particulars, or lack a statement about important particulars:

a person who falls under any of the following:

a person that has not established a system for the provision of the electronic payment instruments and cryptoasset intermediary services in a proper and steady manner;

a person that has not established a system necessary for ensuring compliance with the provisions of this Chapter;

a person for whom the applicant's principal electronic payment instruments service provider or principal cryptoasset exchange service provider (hereinafter referred to as the "principal electronic payment instruments service provider, etc." in this Chapter and Article 88, item (i)) has not joined a certified association for payment service providers;

a person that intends to use a trade name or other name that is identical to the one currently being used by an electronic payment instruments service provider, a cryptoasset exchange service provider or another electronic payment instruments and cryptoasset intermediary service provider, or that may be misidentified as any of them;

a person who had their registration referred to in Article 62-3 revoked pursuant to the provisions of Article 62-22, paragraph (1) or (2), had their registration referred to in Article 63-2 revoked pursuant to the provisions of Article 63-17, paragraph (1) or (2), or had their registration referred to in Article 63-22-2 revoked pursuant to the provisions of Article 63-22-20, paragraph (1) or (2), or had the registration, permission or license of the same type in a foreign state (including other administrative dispositions similar to the registration, permission or license) revoked pursuant to the provisions of laws and regulations of the foreign state equivalent to this Act or the Banking Act, etc., and for whom five years have not elapsed from the date of the revocation;

a person who has received an order to discontinue electronic payment instruments services pursuant to the provisions of Article 62-22, paragraph (1) as applied pursuant to Article 62-8, paragraph (2) following the deemed replacement of terms, or has received an order to discontinue the same type of services as electronic payment instruments services pursuant to the provisions of laws and regulations of a foreign state that are equivalent to this Act or the Banking Act, etc., and for whom five years have not elapsed from the date of the order;

a person who has been punished by a fine (including a punishment pursuant to laws and regulations of a foreign state equivalent to this) for violating the provisions of this Act, the Financial Instruments and Exchange Act, the Banking Act, etc., the Act on Engagement in Trust Business by Financial Institutions, the Act Regulating the Receipt of Contributions, the Receipt of Deposits, and Interest Rates, or the Trust Business Act, or laws and regulations of a foreign state equivalent thereto, and for whom five years have not elapsed from the day on which the execution of the sentence ended or from the day on which the sentence ceased to be executed;

a person whose other business is found to be against the public interest;

in cases of a corporation, a person that falls under any of the following:

a person that is a foreign corporation and does not have a representative person in Japan (limited to a person who is domiciled in Japan);

a person that has, among its officers, a person who falls under any of the following:

a person specified by Cabinet Office Order as being unable to properly perform their duties pertaining to the electronic payment instruments and cryptoasset intermediary services due to a mental or physical disorder;

a person who has not had their rights restored after receiving an order to commence bankruptcy proceedings, or a person equivalent thereto pursuant to laws and regulations of a foreign state;

a person who has been sentenced to imprisonment or heavier punishment (including equivalent punishment pursuant to laws and regulations of a foreign state), and for whom five years have not elapsed from the day on which the execution of the sentence ended or from the day on which the sentence ceased to be executed;

a person who falls under (g) of the preceding item;

if an electronic payment instruments and cryptoasset intermediary service provider that is a corporation has had its registration referred to in Article 63-22-2 revoked pursuant to the provisions of Article 63-22-20, paragraph (1) or (2), or a corporation has had the registration of the same type in a foreign state (including other administrative dispositions similar to the registration) revoked pursuant to the provisions of laws and regulations of the foreign state equivalent to this Act, a person who was an officer of the corporation at any time during the thirty days prior to the date of the revocation and for whom five years have not elapsed from the date of the revocation, or a person specified by Cabinet Order as similar thereto.

in the case of an individual, a person who falls under any of the following:

an individual who has an address in a foreign country and has not appointed an agent in Japan;

a person who falls under any of (b), (1) through (3) or (5) of the preceding item;

a minor who does not have the same capacity to act as an adult with regard to electronic payment instruments and cryptoasset intermediary services, whose legal representative (including, where the legal representative is a corporation, its officers) falls under any of (b), (1) through (5) of the preceding item.

If the Prime Minister refuses the registration pursuant to the provisions of the preceding paragraph, the Minister must notify the applicant to that effect by indicating the reason therefor without delay.

When an electronic payment instruments and cryptoasset intermediary service provider intends to change any of the particulars set forth in Article 63-22-3, paragraph (1), item (v) (limited to changes due to its intention to provide a new type of business), the electronic payment instruments and cryptoasset intermediary service provider must have the change registered by the Prime Minister, pursuant to the provisions of Cabinet Office Order.

The provisions of the preceding three Articles apply mutatis mutandis to the registration of change referred to in the preceding paragraph. In this case, the term the "following particulars" in Article 63-22-3, paragraph (1) is replaced with the "particulars pertaining to the change", the term "any of the items of Article 63-22-5, paragraph (1)" in paragraph (2) of that Article is replaced with "Article 63-22-5, paragraph (1), item (i), (a) through (c)", the term the "following particulars" in Article 63-22-4, paragraph (1) is replaced with the "particulars pertaining to the change to the particulars set forth in paragraph (1), item (v) of the preceding Article", and the term "any of the following items" in paragraph (1) of the preceding Article is replaced with "any of (a) through (c) of item (i)".

When an electronic payment instruments and cryptoasset intermediary service provider intends to change any of the particulars set forth in Article 63-22-3, paragraph (1), items (vi) through (viii) (excluding cases specified by Cabinet Office Order as being less likely to weaken the protection of users of electronic payment instruments and cryptoasset intermediary services or hinder the proper and steady performance of electronic payment instruments and cryptoasset intermediary services), the electronic payment instruments and cryptoasset intermediary service provider must notify the Prime Minister to that effect in advance.

If any of the particulars set forth in the items of Article 63-22-3, paragraph (1) are changed (excluding the case in which registration of change has been made under the provisions of paragraph (1), the case in which a notification has been filed under the provisions of the preceding paragraph, the case in which a notification has been filed under the provisions of Article 63-22-23, paragraph (1), cases falling under any of the items of paragraph (2) of that Article, and cases falling under any of items (ii) through (iv) of paragraph (3) of that Article), the electronic payment instruments and cryptoasset intermediary service provider must notify the Prime Minister to that effect without delay.

If an electronic payment instruments and cryptoasset intermediary service provider that carries out business pertaining to all of the acts set forth in the items of Article 2, paragraph (18) comes to fall under any of the cases set forth in the following items (excluding where it falls under all of the cases set forth in the following items), it is deemed that a notification under the provisions of the preceding paragraph has been filed with the content specified in the relevant item:

when any of the following applies: the effect that it will not carry out business pertaining to electronic payment instruments intermediary acts with regard to the particulars set forth in Article 63-22-3, paragraph (1), item (v):

when it has received the registration referred to in Article 62-3 (limited to registration in which the particulars set forth in Article 62-4, paragraph (1), item (vii) include electronic payment instruments-related business) or the registration of change referred to in Article 62-7, paragraph (1) (limited to registration of change due to its intention to newly carry out electronic payment instruments-related business);

when there is no longer a principal electronic payment instruments service provider.

when any of the following applies: the effect that it will not carry out business pertaining to cryptoasset intermediary acts with regard to the particulars set forth in Article 63-22-3, paragraph (1), item (v):

when it has received the registration referred to in Article 63-2;

when there is no longer a principal cryptoasset exchange service provider.

When the Prime Minister has accepted a notification under the provisions of paragraph (3) or (4) (including where a notification is deemed to have been filed under the provisions of paragraph (4) pursuant to the provisions of the preceding paragraph), the Prime Minister must register the notified particulars in the register of electronic payment instruments and cryptoasset intermediary service providers.

An electronic payment instruments and cryptoasset intermediary service provider must not have another person provide electronic payment instruments and cryptoasset intermediary services in the name of the electronic payment instruments and cryptoasset intermediary service provider.

When an electronic payment instruments and cryptoasset intermediary service provider intends to carry out the acts set forth in the items of Article 2, paragraph (18) (referred to as "electronic payment instruments and cryptoasset intermediary acts" in the following Article and Article 63-22-14), the electronic payment instruments and cryptoasset intermediary service provider must, in advance, clarify the following particulars to users:

the trade name of the principal electronic payment instruments service provider, etc.;

the fact that the provider has no authority to act as agent for the principal electronic payment instruments service provider, etc.;

the purport of the provisions of Article 63-22-13;

other particulars specified by Cabinet Office Order.

An electronic payment instruments and cryptoasset intermediary service provider must not, with a user of the electronic payment instruments and cryptoasset intermediary services it carries out as the other party, perform any of the acts set forth in the items of Article 2, paragraph (10) and the items of paragraph (15) of that Article, other than electronic payment instruments and cryptoasset intermediary acts performed upon commission from a principal electronic payment instruments service provider, etc. (excluding the acts set forth in the items of paragraph (10) of that Article performed where the electronic payment instruments and cryptoasset intermediary service provider is an electronic payment instruments service provider, and the acts set forth in the items of paragraph (15) of that Article performed where the electronic payment instruments and cryptoasset intermediary service provider is a cryptoasset exchange service provider).

Section 2 Business

An electronic payment instruments and cryptoasset intermediary service provider must, pursuant to the provisions of Cabinet Office Order, take necessary measures for preventing leakage, loss, or damage to information pertaining to the electronic payment instruments and cryptoasset intermediary services and other measures for the security management of relevant information.

If an electronic payment instruments and cryptoasset intermediary service provider entrusts (including the case under multi-tier entrustment arrangements) part of the electronic payment instruments and cryptoasset intermediary services to a third party, the electronic payment instruments and cryptoasset intermediary service provider must provide guidance to the third party to whom the relevant business has been entrusted and take other measures necessary for ensuring the operation of the business in a proper and steady manner pursuant to the provisions of Cabinet Office Order.

When an electronic payment instruments and cryptoasset intermediary service provider carries out business pertaining to electronic payment instruments intermediary acts, it must, pursuant to the provisions of Cabinet Office Order, provide explanation to prevent users from mistaking the business pertaining to electronic payment instruments intermediary acts for the business carried out by deposit-taking institutions, a funds transfer service provider, or a specified trust company, provide information about details of electronic payment instruments, fees and other terms and conditions of contracts related to the business pertaining to electronic payment instruments intermediary acts, and take other measures necessary for protecting the users of the business pertaining to electronic payment instruments intermediary acts and ensuring the provision of the business pertaining to electronic payment instruments intermediary acts in a proper and steady manner.

When an electronic payment instruments and cryptoasset intermediary service provider carries out business pertaining to cryptoasset intermediary acts, it must, pursuant to the provisions of Cabinet Office Order, provide explanation concerning the characteristics of cryptoassets, and information about fees and other terms and conditions of contracts pertaining to the business pertaining to cryptoasset intermediary acts, and take other measures necessary for protecting the users of the business pertaining to cryptoasset intermediary acts and ensuring the provision of the business pertaining to cryptoasset intermediary acts in a proper and steady manner.

An electronic payment instruments and cryptoasset intermediary service provider must not carry out cryptoasset intermediary acts by granting credit to a user of the business pertaining to cryptoasset intermediary acts.

An electronic payment instruments and cryptoasset intermediary service provider must not, for any reason, receive a deposit of money or other property from a user, or have a person specified by Cabinet Order as being closely related to that electronic payment instruments and cryptoasset intermediary service provider deposit a user's money or other property, in connection with the electronic payment instruments and cryptoasset intermediary services it provides.

The person specified in each of the following items in accordance with the category of acts set forth in that item is liable to compensate for any loss or damage that the electronic payment instruments and cryptoasset intermediary service provider that entrusted the act has caused to users in relation to the act set forth in that item; provided, however, that this does not apply if the person specified in that item has exercised reasonable care in entrusting the act to that electronic payment instruments and cryptoasset intermediary service provider and has endeavored to prevent the occurrence of loss or damage caused to users in relation to the electronic payment instruments and cryptoasset intermediary acts carried out by that person.

electronic payment instruments intermediary acts: the principal electronic payment instruments service provider that entrusted those electronic payment instruments intermediary acts;

cryptoasset intermediary acts: the principal cryptoasset exchange service provider that entrusted those cryptoasset intermediary acts.

The provisions of Article 63-9-2 and Article 63-9-3 apply mutatis mutandis to an electronic payment instruments and cryptoasset intermediary service provider that carries out cryptoasset intermediary acts. In this case, the phrase "concerning the cryptoasset exchange service" in Article 63-9-2 is deemed to be replaced with "concerning the business pertaining to cryptoasset intermediary acts"; in item (i) of that Article, the phrase "trade name" is deemed to be replaced with "trade name, other name or name"; in Article 63-9-3, item (i), the phrase "when concluding a contract for engaging in" is deemed to be replaced with "when intermediating the conclusion of a contract for engaging in", the phrase "user of cryptoasset exchange service" is deemed to be replaced with "user of business pertaining to cryptoasset intermediary acts", the phrase "any acts set forth in the items of Article 2, paragraph (15)" is deemed to be replaced with "any acts set forth in the items of Article 2, paragraph (15) that the principal cryptoasset exchange service provider (meaning the principal cryptoasset exchange service provider prescribed in Article 63-22-3, paragraph (1), item (vii), (b); the same applies hereinafter in this item) carries out", and the phrase "conclusion, etc. of a cryptoasset exchange contract" is deemed to be replaced with "intermediation, etc. of the conclusion of a cryptoasset exchange contract"; in item (ii) of that Article, the phrase "concerning the cryptoasset exchange service" is deemed to be replaced with "concerning the business pertaining to cryptoasset intermediary acts"; in item (iii) of that Article, the phrase "concluding a cryptoasset exchange contract, etc." is deemed to be replaced with "intermediating the conclusion of a cryptoasset exchange contract, etc." and the phrase "concerning the cryptoasset exchange service" is deemed to be replaced with "concerning the business pertaining to cryptoasset intermediary acts"; and in item (iv) of that Article, the phrase "cryptoasset exchange services" is deemed to be replaced with "business pertaining to cryptoasset intermediary acts".

Section 3 Supervision

Pursuant to the provisions of Cabinet Office Order, an electronic payment instruments and cryptoasset intermediary service provider must prepare and preserve the books and documents on its electronic payment instruments and cryptoasset intermediary services.

Pursuant to the provisions of Cabinet Office Order, an electronic payment instruments and cryptoasset intermediary service provider must prepare a written report on its electronic payment instruments and cryptoasset intermediary services for each business year and submit it to the Prime Minister.

When the Prime Minister finds it necessary for the provision of the electronic payment instruments and cryptoasset intermediary services in a proper and steady manner, the Minister may order an electronic payment instruments and cryptoasset intermediary service provider to submit reports or materials that can be used as reference for its business or property, or have officials enter the business office, office or other facility of that electronic payment instruments and cryptoasset intermediary service provider, ask questions about the status of its business or property or inspect its books and documents or other items.

When the Prime Minister finds it particularly necessary for the provision of the electronic payment instruments and cryptoasset intermediary services in a proper and steady manner, to the extent necessary for this, the Minister may order a person to whom business has been entrusted by the electronic payment instruments and cryptoasset intermediary service provider (including persons to whom the business has been entrusted by the entrusted person (including those under multi-tier entrustment arrangements); hereinafter the same applies in this Article) to submit reports or materials that can be used as reference for the status of the business or property of the electronic payment instruments and cryptoasset intermediary service provider, or have officials enter the facility of the person to whom business has been entrusted by the electronic payment instruments and cryptoasset intermediary service provider, ask questions about the status of the business or property of the electronic payment instruments and cryptoasset intermediary service provider or inspect its books and documents or other items.

A person to whom business has been entrusted by an electronic payment instruments and cryptoasset intermediary service provider referred to in the preceding paragraph may refuse the submission of reports or materials, or the questions or inspection under the provisions of that paragraph if there are reasonable grounds for doing so.

When the Prime Minister finds it necessary for the provision of the electronic payment instruments and cryptoasset intermediary services in a proper and steady manner, to the extent necessary for this, the Minister may order an electronic payment instruments and cryptoasset intermediary service provider to take necessary measures to improve the operation of its business or its financial status or other measures necessary for the purpose of supervision.

If an electronic payment instruments and cryptoasset intermediary service provider falls under any of the following items, the Prime Minister may revoke its registration referred to in Article 63-22-2 or order the electronic payment instruments and cryptoasset intermediary service provider to suspend all or part of its electronic payment instruments and cryptoasset intermediary services, specifying a period of suspension not exceeding six months: