Payment Services Act

A person who actually conducts, at the time of enforcement of this Act, the new financial instruments business (meaning the financial instruments business prescribed in Article 2, paragraph (8) of the New Financial Instruments and Exchange Act, and excluding that which falls under the financial instruments business prescribed in Article 2, paragraph (8) of the Financial Instruments and Exchange Act before amendment by the provisions of Article 2 (excluding the amending provisions set forth in Article 1, item (vi) of the Supplementary Provisions) (hereinafter referred to as the "Former Financial Instruments and Exchange Act") or the cryptoasset exchange services prescribed in Article 2, paragraph (15) of the Payment Services Act before amendment by the provisions of Article 3 (hereinafter referred to as the "Former Payment Services Act"); hereinafter the same applies in this Article through Article 7 of the Supplementary Provisions) (excluding a financial instruments business operator (meaning a financial instruments business operator prescribed in Article 2, paragraph (9) of the Financial Instruments and Exchange Act; hereinafter the same applies) and a financial institution prescribed in Article 33, paragraph (1) of the New Financial Instruments and Exchange Act) may, notwithstanding Article 29 of the Financial Instruments and Exchange Act, for six months counting from the Effective Date (or, in the case where the person has filed an application for registration under Article 29 of the Financial Instruments and Exchange Act and, within that period, a disposition of refusal of registration under Article 29-4, paragraph (1) of the New Financial Instruments and Exchange Act is made on the application, or the person is ordered, within that period, to discontinue the entire new financial instruments business pursuant to Article 52, paragraph (1) or (4) of the New Financial Instruments and Exchange Act as applied by replacing terms pursuant to paragraph (3), until the date of that disposition or the date of the order to discontinue), engage in that new financial instruments business, with the customers of that new financial instruments business that the person actually conducts at the time of enforcement of this Act as the other party, or for those customers, with regard to the same brand (including those specified by Cabinet Office Order as equivalent thereto; the same applies in paragraph (1) of the following Article) as the cryptoassets (meaning the cryptoassets prescribed in Article 2, paragraph (49) of the New Financial Instruments and Exchange Act; hereinafter the same applies) that the person actually handles in that new financial instruments business at the time of enforcement of this Act.

If a person who may engage in the new financial instruments business pursuant to the preceding paragraph has filed an application for registration under Article 29 of the Financial Instruments and Exchange Act by the day on which six months have elapsed counting from the Effective Date, and that period has elapsed without a disposition of registration or refusal of registration having been made on the application, the same applies as in the preceding paragraph until either of those dispositions is made on the application (or, if during that time the person is ordered to discontinue the entire new financial instruments business pursuant to Article 52, paragraph (1) or (4) of the New Financial Instruments and Exchange Act as applied by replacing terms pursuant to the following paragraph, until the date of the order to discontinue); provided, however, that this does not apply if two years have elapsed counting from the Effective Date.

In the case where a person may engage in the new financial instruments business pursuant to the preceding two paragraphs, the person is deemed to be a financial instruments business operator, and the provisions of Article 2, paragraph (52), Chapter II-7, Chapter III, Section 1, Subsection 5, Section 2 (excluding Article 36-2), Section 3 (excluding Articles 46, 46-5, 46-6, 49-4 and 49-5), Section 4 (excluding Article 53) and Section 8, Chapter VI and Chapter VI-2 of the New Financial Instruments and Exchange Act, the provisions of Chapter VIII and Chapter VIII-2 of the New Financial Instruments and Exchange Act pertaining to those provisions, and the provisions of the Foreign Exchange and Foreign Trade Act (Act No. 228 of 1949) as amended by the provisions of Article 49 of the Supplementary Provisions (referred to as the "New Foreign Exchange Act" in Article 8, paragraph (3) of the Supplementary Provisions) and the Act on Prevention of Transfer of Criminal Proceeds as amended by the provisions of Article 74 of the Supplementary Provisions (referred to as the "New Criminal Proceeds Transfer Prevention Act" in Article 8, paragraph (3) of the Supplementary Provisions) (including provisions of orders based on those provisions) apply. In this case, the phrase "revoke the registration under Article 29" in Article 52, paragraph (1) of the New Financial Instruments and Exchange Act is deemed to be replaced with "order the discontinuation of the entire new financial instruments business (meaning the new financial instruments business prescribed in Article 5, paragraph (1) of the Supplementary Provisions of the Act Partially Amending the Financial Instruments and Exchange Act and the Payment Services Act (Act No. 64 of 2026); the same applies in paragraph (4))", and the phrase "revoke the registration" in paragraph (4) of that Article is deemed to be replaced with "order the discontinuation of the entire new financial instruments business", and any other necessary technical replacement of terms is specified by Cabinet Order.

With regard to the application of the provisions of the New Financial Instruments and Exchange Act in the case where a person is ordered to discontinue the entire new financial instruments business pursuant to Article 52, paragraph (1) or (4) of the New Financial Instruments and Exchange Act as applied by replacing terms pursuant to the preceding paragraph, the person ordered to discontinue is deemed to be a person whose registration under Article 29 of the Financial Instruments and Exchange Act has been revoked pursuant to those provisions, and the date on which the order to discontinue was issued is deemed to be the date of revocation of registration under Article 29 of the Financial Instruments and Exchange Act pursuant to Article 52, paragraph (1) or (4) of the New Financial Instruments and Exchange Act.

With regard to a financial instruments business operator that actually conducts the new financial instruments business at the time of enforcement of this Act (excluding, where that new financial instruments business falls under investment advisory and agency business (meaning the investment advisory and agency business prescribed in Article 28, paragraph (3) of the Financial Instruments and Exchange Act; hereinafter the same applies in this paragraph), a person who, at the time of enforcement of this Act, has already received the registration under Article 29 of the Financial Instruments and Exchange Act or the registration of change under Article 31, paragraph (4) of that Act for conducting investment advisory and agency business, and excluding, where that new financial instruments business falls under investment management business (meaning the investment management business prescribed in Article 28, paragraph (4) of that Act; hereinafter the same applies in this paragraph), a person who, at the time of enforcement of this Act, has already received the registration under Article 29 of the Financial Instruments and Exchange Act or the registration of change under Article 31, paragraph (4) of that Act for conducting investment management business), Article 31, paragraph (4) of the Financial Instruments and Exchange Act applies by deeming that financial instruments business operator to be seeking, on the Effective Date, to change the particulars set forth in Article 29-2, paragraph (1), item (v) of the New Financial Instruments and Exchange Act (limited to a change pertaining to the addition of a type of business pertaining to that new financial instruments business). In this case, that financial instruments business operator may, for six months counting from the Effective Date (or, in the case where it has filed an application for registration of change under that paragraph and, within that period, a disposition of refusal of registration of change under Article 29-4, paragraph (1) of the New Financial Instruments and Exchange Act as applied mutatis mutandis pursuant to paragraph (5) of that Article is made on the application, until the date of that disposition), without receiving the registration of change under Article 31, paragraph (4) of the Financial Instruments and Exchange Act with regard to those particulars, engage in that new financial instruments business, with the customers of that new financial instruments business that the person actually conducts at the time of enforcement of this Act as the other party, or for those customers, with regard to the same brand as the cryptoassets that the person actually handles in that new financial instruments business at the time of enforcement of this Act.

If a financial instruments business operator that may engage in the new financial instruments business pursuant to the preceding paragraph has filed an application for registration of change under Article 31, paragraph (4) of the Financial Instruments and Exchange Act by the day on which six months have elapsed counting from the Effective Date, and that period has elapsed without a disposition of registration of change or refusal of registration of change having been made on the application, the same applies as in the preceding paragraph until either of those dispositions is made on the application; provided, however, that this does not apply if two years have elapsed counting from the Effective Date.

The provisions of Article 46 and Chapter III, Section 7 of the New Financial Instruments and Exchange Act do not apply to the new financial instruments business conducted by a financial instruments business operator that may engage in the new financial instruments business pursuant to the preceding two paragraphs.

A person who may engage in the new financial instruments business pursuant to Article 5, paragraph (1) of the Supplementary Provisions or paragraph (1) of the preceding Article must notify the Prime Minister, within two weeks counting from the Effective Date, of the trade name, other name or name, and address (including, in the case of a financial instruments business operator, the registration number) of the person, the particulars set forth in Article 29-2, paragraph (1), item (v) of the New Financial Instruments and Exchange Act pertaining to that new financial instruments business, and the name of the cryptoassets handled in that new financial instruments business.

If a person who may engage in the new financial instruments business pursuant to Article 5, paragraph (1) of the Supplementary Provisions or paragraph (1) of the preceding Article fails to make the notification under the provisions of the preceding paragraph, or makes a false notification, the provisions of Article 5, paragraph (1) of the Supplementary Provisions and paragraph (1) of the preceding Article do not apply to that person on or after the day on which the period prescribed in the preceding paragraph has elapsed.

A person who actually holds, at the time of enforcement of this Act, the registration under Article 63-2 of the Former Payment Services Act (including a person who has received the registration under Article 63-2 of the Former Payment Services Act that, pursuant to Article 39, paragraph (1) of the Supplementary Provisions, the provisions then in force continue to govern, and excluding a financial instruments business operator) may, notwithstanding Article 29 of the Financial Instruments and Exchange Act, engage in cryptoasset trading business for six months counting from the Effective Date (or, in the case where the person has filed an application for registration under Article 29 of the Financial Instruments and Exchange Act and, within that period, a disposition of refusal of registration under Article 29-4, paragraph (1) of the New Financial Instruments and Exchange Act is made on the application, or the person is ordered, within that period, to discontinue the entire cryptoasset trading business (meaning the business pertaining to the cryptoasset trading services prescribed in Article 28, paragraph (5) of the New Financial Instruments and Exchange Act that pertains to the acts set forth in item (i) of that paragraph (excluding the acts set forth in Article 2, paragraph (8), item (xxv) of the New Financial Instruments and Exchange Act), or the cryptoasset, etc. management business prescribed in Article 28, paragraph (8) of the New Financial Instruments and Exchange Act; hereinafter the same applies in this Article through Article 11 of the Supplementary Provisions and Article 20, paragraph (1), item (iv) of the Supplementary Provisions) pursuant to Article 52, paragraph (1) or (4) of the New Financial Instruments and Exchange Act as applied by replacing terms pursuant to paragraph (3), until the date of that disposition or the date of the order to discontinue).

If a person who may engage in cryptoasset trading business pursuant to the preceding paragraph has filed an application for registration under Article 29 of the Financial Instruments and Exchange Act by the day on which six months have elapsed counting from the Effective Date, and that period has elapsed without a disposition of registration or refusal of registration having been made on the application, the same applies as in the preceding paragraph until either of those dispositions is made on the application (or, if during that time the person is ordered to discontinue the entire cryptoasset trading business pursuant to Article 52, paragraph (1) or (4) of the New Financial Instruments and Exchange Act as applied by replacing terms pursuant to the following paragraph, until the date of the order to discontinue); provided, however, that this does not apply if two years have elapsed counting from the Effective Date.

In the case where a person may engage in cryptoasset trading business pursuant to the preceding two paragraphs, the person is deemed to be a financial instruments business operator, and the provisions of Article 2, paragraph (11), item (ii) and paragraph (52), Chapter II-7, Chapter III, Section 1, Subsection 5, Section 2 (excluding Articles 36-2 and 43-12), Section 3 (excluding Articles 46, 46-5, 46-6, 49-4 and 49-5), Section 4 (excluding Article 53) and Section 8, Chapter III-2, Article 78, paragraph (1), Chapter VI and Chapter VI-2 of the New Financial Instruments and Exchange Act, the provisions of Chapter VIII and Chapter VIII-2 of the New Financial Instruments and Exchange Act pertaining to those provisions, and the provisions of the New Foreign Exchange Act and the New Criminal Proceeds Transfer Prevention Act (including provisions of orders based on those provisions) apply. In this case, the phrase "revoke the registration under Article 29" in Article 52, paragraph (1) of the New Financial Instruments and Exchange Act is deemed to be replaced with "order the discontinuation of the entire cryptoasset trading business (meaning the cryptoasset trading business prescribed in Article 8, paragraph (1) of the Supplementary Provisions of the Act Partially Amending the Financial Instruments and Exchange Act and the Payment Services Act (Act No. 64 of 2026); the same applies in paragraph (4))", and the phrase "revoke the registration" in paragraph (4) of that Article is deemed to be replaced with "order the discontinuation of the entire cryptoasset trading business", and any other necessary technical replacement of terms is specified by Cabinet Order.

With regard to the application of the provisions of the New Financial Instruments and Exchange Act in the case where a person is ordered to discontinue the entire cryptoasset trading business pursuant to Article 52, paragraph (1) or (4) of the New Financial Instruments and Exchange Act as applied by replacing terms pursuant to the preceding paragraph, the person ordered to discontinue is deemed to be a person whose registration under Article 29 of the Financial Instruments and Exchange Act has been revoked pursuant to those provisions, and the date on which the order to discontinue was issued is deemed to be the date of revocation of registration under Article 29 of the Financial Instruments and Exchange Act pursuant to Article 52, paragraph (1) or (4) of the New Financial Instruments and Exchange Act.

With regard to a person who is deemed to be a financial instruments business operator pursuant to paragraph (3) and who actually conducts, at the time of enforcement of this Act, cryptoasset purchase and sale business, etc. (meaning the cryptoasset purchase and sale business, etc. prescribed in Article 2, paragraph (52) of the New Financial Instruments and Exchange Act; hereinafter the same applies in this paragraph and paragraph (4) of the following Article), Article 27-60, paragraph (1), Article 172-19, paragraphs (1) and (2), Article 178, paragraphs (35) and (36) and Article 185-7, paragraph (25) of the New Financial Instruments and Exchange Act apply by deeming that person to be seeking, on the Effective Date, to newly conduct cryptoasset purchase and sale business, etc. with regard to the cryptoassets with regard to which the person is conducting that cryptoasset purchase and sale business, etc.. In this case, the phrase "in advance" in Article 27-60, paragraph (1) of the New Financial Instruments and Exchange Act is deemed to be replaced with "within three months counting from the date of enforcement of the Act Partially Amending the Financial Instruments and Exchange Act and the Payment Services Act (Act No. 64 of 2026)", and any other necessary technical replacement of terms is specified by Cabinet Order.

An act committed prior to the Effective Date by a person deemed to be a financial instruments business operator pursuant to paragraph (3) that falls under Article 63-17, paragraph (1), item (iii) of the Former Payment Services Act is deemed to be an act falling under Article 52, paragraph (1), item (viii) of the New Financial Instruments and Exchange Act.

A disposition made prior to the Effective Date against the person prescribed in the preceding paragraph pursuant to Article 63-17, paragraph (1) or (2) of the Former Payment Services Act is deemed to be a disposition under Article 52, paragraph (1) or (4) of the New Financial Instruments and Exchange Act (including where those provisions are applied pursuant to paragraph (3)).

With regard to a financial instruments business operator that actually holds, at the time of enforcement of this Act, the registration under Article 63-2 of the Former Payment Services Act (including a financial instruments business operator that has received the registration under Article 63-2 of the Former Payment Services Act that, pursuant to Article 39, paragraph (1) of the Supplementary Provisions, the provisions then in force continue to govern), Article 31, paragraph (4) of the Financial Instruments and Exchange Act applies by deeming that financial instruments business operator to be seeking, on the Effective Date, to change the particulars set forth in Article 29-2, paragraph (1), item (v) of the New Financial Instruments and Exchange Act (limited to a change pertaining to the addition of a type of business pertaining to the acts set forth in Article 28, paragraph (5), item (i) of the New Financial Instruments and Exchange Act or to the cryptoasset, etc. management business prescribed in paragraph (8) of that Article). In this case, that financial instruments business operator may, for six months counting from the Effective Date (or, in the case where it has filed an application for registration of change under that paragraph and, within that period, a disposition of refusal of registration of change under Article 29-4, paragraph (1) of the New Financial Instruments and Exchange Act as applied mutatis mutandis pursuant to paragraph (5) of that Article is made on the application, until the date of that disposition), without receiving the registration of change under Article 31, paragraph (4) of the Financial Instruments and Exchange Act with regard to those particulars, engage in cryptoasset trading business.

If a financial instruments business operator that may engage in cryptoasset trading business pursuant to the preceding paragraph has filed an application for registration of change under Article 31, paragraph (4) of the Financial Instruments and Exchange Act by the day on which six months have elapsed counting from the Effective Date, and that period has elapsed without a disposition of registration of change or refusal of registration of change having been made on the application, the same applies as in the preceding paragraph until either of those dispositions is made on the application; provided, however, that this does not apply if two years have elapsed counting from the Effective Date.

The provisions of Article 43-12, Article 46 and Chapter III, Section 7 of the New Financial Instruments and Exchange Act do not apply to the cryptoasset trading business conducted by a financial instruments business operator that may engage in cryptoasset trading business pursuant to the preceding two paragraphs.

With regard to a financial instruments business operator that may engage in cryptoasset trading business pursuant to paragraph (1) and that actually conducts cryptoasset purchase and sale business, etc. at the time of enforcement of this Act, Article 27-60, paragraph (1), Article 172-19, paragraphs (1) and (2), Article 178, paragraphs (35) and (36) and Article 185-7, paragraph (25) of the New Financial Instruments and Exchange Act apply by deeming that financial instruments business operator to be seeking, on the Effective Date, to newly conduct cryptoasset purchase and sale business, etc. with regard to the cryptoassets with regard to which it is conducting that cryptoasset purchase and sale business, etc.. In this case, the phrase "in advance" in Article 27-60, paragraph (1) of the New Financial Instruments and Exchange Act is deemed to be replaced with "within three months counting from the date of enforcement of the Act Partially Amending the Financial Instruments and Exchange Act and the Payment Services Act (Act No. 64 of 2026)", and any other necessary technical replacement of terms is specified by Cabinet Order.

An act committed prior to the Effective Date by a financial instruments business operator that may engage in cryptoasset trading business pursuant to paragraph (1) that falls under Article 63-17, paragraph (1), item (iii) of the Former Payment Services Act is deemed to be an act falling under Article 52, paragraph (1), item (viii) of the New Financial Instruments and Exchange Act.

A disposition made prior to the Effective Date against the financial instruments business operator prescribed in the preceding paragraph pursuant to Article 63-17, paragraph (1) or (2) of the Former Payment Services Act is deemed to be a disposition under Article 52, paragraph (1) or (4) of the New Financial Instruments and Exchange Act.

A person who may engage in cryptoasset trading business pursuant to Article 8, paragraph (1) of the Supplementary Provisions or paragraph (1) of the preceding Article must notify the Prime Minister of the following particulars within two weeks counting from the Effective Date (for a person who has received the registration under Article 63-2 of the Former Payment Services Act that, pursuant to Article 39, paragraph (1) of the Supplementary Provisions, the provisions then in force continue to govern, within two weeks counting from the date on which the person received that registration):

the particulars set forth in Article 63-3, paragraph (1), items (i), (ii) and (x) of the Former Payment Services Act (including the registration number, in the case of a financial instruments business operator);

the name and location of the business office pertaining to the cryptoasset trading business;

the name or other name of the officers (meaning the officers prescribed in Article 21, paragraph (1), item (i) of the Financial Instruments and Exchange Act and, in the case of a foreign corporation, including its representative person in Japan);

the name of the cryptoassets to be handled;

the content and method of the cryptoasset trading business;

other particulars specified by Cabinet Office Order.

If a person who may engage in cryptoasset trading business pursuant to Article 8, paragraph (1) of the Supplementary Provisions or paragraph (1) of the preceding Article fails to make the notification under the provisions of the preceding paragraph, or makes a false notification, the provisions of Article 8, paragraph (1) of the Supplementary Provisions and paragraph (1) of the preceding Article do not apply to that person on or after the day on which the period prescribed in the preceding paragraph has elapsed.

A person who may engage in cryptoasset trading business pursuant to Article 8, paragraph (1) or (2) of the Supplementary Provisions or paragraph (1) or (2) of the preceding Article must, when seeking to change any of the particulars set forth in paragraph (1), item (iv) or (v) (excluding cases specified by Cabinet Office Order as those in which there is little risk of failing to protect investors or of hindering the appropriate and reliable performance of the cryptoasset trading business), notify the Prime Minister to that effect in advance.

A person who may engage in cryptoasset trading business pursuant to Article 8, paragraph (1) or (2) of the Supplementary Provisions or paragraph (1) or (2) of the preceding Article must, when there is a change in any of the particulars set forth in the items of paragraph (1) (excluding where the notification under the preceding paragraph has been made), notify the Prime Minister to that effect without delay.

With regard to the application of Article 29-4, paragraph (1), item (viii), (a) of the New Financial Instruments and Exchange Act, a person who has had registration under Article 63-2 of the Former Payment Services Act revoked pursuant to Article 63-17, paragraph (1) or (2) of the Former Payment Services Act, or has had registration under Article 63-22-2 of the Former Payment Services Act revoked pursuant to Article 63-22-20, paragraph (1) or (2) of the Former Payment Services Act, and for whom five years have not passed since the date of the revocation, or a person who has had revoked registration of the same type that the person held in a foreign state pursuant to the provisions of the laws and regulations of that foreign state comparable to the Former Payment Services Act (including permission or other administrative dispositions similar to that registration), and for whom five years have not passed since the date of the revocation, is deemed to be a person falling under (a) of that item.

With regard to the application of Article 29-4, paragraph (1), item (viii), (c)(1) of the New Financial Instruments and Exchange Act, in the case where a corporation that was a cryptoasset exchange service provider (meaning a cryptoasset exchange service provider prescribed in Article 2, paragraph (16) of the Former Payment Services Act) has had its registration under Article 63-2 of the Former Payment Services Act revoked pursuant to Article 63-17, paragraph (1) or (2) of the Former Payment Services Act, or in the case where a corporation that was an electronic payment instruments and cryptoasset intermediary service provider (meaning an electronic payment instruments and cryptoasset intermediary service provider prescribed in Article 2, paragraph (19) of the Former Payment Services Act; the same applies in the following paragraph and Article 33, paragraph (2) of the Supplementary Provisions) has had its registration under Article 63-22-2 of the Former Payment Services Act revoked pursuant to Article 63-22-20, paragraph (1) or (2) of the Former Payment Services Act, or in the case where a corporation that held registration of the same type in a foreign state pursuant to the provisions of the laws and regulations of that foreign state comparable to the Former Payment Services Act (including permission or other administrative dispositions similar to that registration) has had that registration of the same type revoked, a person who was an officer of any of those corporations (meaning an officer prescribed in Article 29-4, paragraph (1), item (i)-2 of the New Financial Instruments and Exchange Act) within 30 days prior to the date of the revocation and for whom five years have not passed since the date of the revocation is deemed to be a person falling under Article 29-4, paragraph (1), item (viii), (c)(1) of the New Financial Instruments and Exchange Act.

With regard to the application of Article 29-4, paragraph (1), item (viii), (c)(3) of the New Financial Instruments and Exchange Act, in the case where an individual who was an electronic payment instruments and cryptoasset intermediary service provider has had registration under Article 63-22-2 of the Former Payment Services Act revoked pursuant to Article 63-22-20, paragraph (1) or (2) of the Former Payment Services Act, or in the case where an individual who held registration of the same type in a foreign state pursuant to the provisions of the laws and regulations of that foreign state comparable to the Former Payment Services Act (including permission or other administrative dispositions similar to that registration) has had that registration of the same type revoked, a person for whom five years have not passed since the date of the revocation is deemed to be a person falling under (c)(3) of that item.

A person who, at the time of enforcement of this Act, actually holds registration under Article 63-22-2 of the Former Payment Services Act (limited to registration pertaining to the type of business pertaining to a cryptoasset intermediary act (meaning a cryptoasset intermediary act prescribed in Article 2, paragraph (18) of the Former Payment Services Act; the same applies in paragraph (6) and paragraph (5) of the following Article); hereinafter the same applies in this paragraph and paragraph (1) of the following Article) (including a person who has received a registration under Article 63-22-2 of the Former Payment Services Act that, pursuant to Article 39, paragraph (1) of the Supplementary Provisions, the provisions then in force continue to govern, and excluding a financial instruments intermediary (meaning a financial instruments intermediary prescribed in Article 2, paragraph (12) of the Financial Instruments and Exchange Act; hereinafter the same applies in this Article, the following Article and Article 20, paragraph (1), item (i) of the Supplementary Provisions)) may, notwithstanding Article 29 of the Financial Instruments and Exchange Act, engage in cryptoasset purchase and sale intermediary business, etc. for six months counting from the Effective Date (or, in the case where the person has filed an application for registration under Article 66 of the New Financial Instruments and Exchange Act and, within that period, a disposition of refusal of registration under Article 66-4 of the New Financial Instruments and Exchange Act is made on the application, or the person is ordered, within that period, to discontinue the entire cryptoasset purchase and sale intermediary business, etc. (meaning cryptoasset purchase and sale intermediary business, etc. prescribed in Article 66-2, paragraph (1), item (iv) of the New Financial Instruments and Exchange Act; the same applies hereinafter in this Article through Article 20 of the Supplementary Provisions) pursuant to Article 66-20, paragraph (1) or (3) of the New Financial Instruments and Exchange Act as applied by replacing terms pursuant to paragraph (3), until the date of that disposition or the date of the order to discontinue).

If a person who may engage in cryptoasset purchase and sale intermediary business, etc. pursuant to the preceding paragraph has filed an application for registration under Article 66 of the New Financial Instruments and Exchange Act by the day on which six months have elapsed counting from the Effective Date, and that period has elapsed without a disposition of registration or refusal of registration having been made on the application, the same applies as in the preceding paragraph until either of those dispositions is made on the application (or, if during that time the person is ordered to discontinue the entire cryptoasset purchase and sale intermediary business, etc. pursuant to Article 66-20, paragraph (1) or (3) of the New Financial Instruments and Exchange Act as applied by replacing terms pursuant to the following paragraph, until the date of the order to discontinue); provided, however, that this does not apply if two years have elapsed counting from the Effective Date.

In the case where a person may engage in cryptoasset purchase and sale intermediary business, etc. pursuant to the preceding two paragraphs, the person is deemed to be a financial instruments intermediary, and the provisions of Chapter III-2, Section 2 (excluding Article 66-8), Section 3, Section 4 and Section 5 (excluding Article 66-25) of the New Financial Instruments and Exchange Act, and the provisions of Chapter VIII and Chapter VIII-2 of the New Financial Instruments and Exchange Act pertaining to those provisions (including provisions of orders based on those provisions), apply. In this case, the phrase "revokes the registration under Article 66" in Article 66-20, paragraph (1) of the New Financial Instruments and Exchange Act is deemed to be replaced with "orders the discontinuation of the entire cryptoasset purchase and sale intermediary business, etc.", and the phrase "revoke the registration" in paragraph (3) of that Article is deemed to be replaced with "order the discontinuation of the entire cryptoasset purchase and sale intermediary business, etc.", and any other necessary technical replacement of terms is specified by Cabinet Order.

With regard to the application of the provisions of the New Financial Instruments and Exchange Act in the case where a person is ordered to discontinue the entire cryptoasset purchase and sale intermediary business, etc. pursuant to Article 66-20, paragraph (1) or (3) of the New Financial Instruments and Exchange Act as applied by replacing terms pursuant to the preceding paragraph, the person ordered to discontinue is deemed to be a person whose registration under Article 66 of the New Financial Instruments and Exchange Act has been revoked pursuant to those provisions, and the date on which the order to discontinue was issued is deemed to be the date of revocation of registration under Article 66 of the New Financial Instruments and Exchange Act pursuant to Article 66-20, paragraph (1) or (3) of the New Financial Instruments and Exchange Act.

An act that a person deemed to be a financial instruments intermediary pursuant to paragraph (3) committed prior to the Effective Date and that falls under Article 63-22-20, paragraph (1), item (iii) of the Former Payment Services Act is deemed to be an act falling under Article 66-20, paragraph (1), item (iii) of the New Financial Instruments and Exchange Act.

A disposition made prior to the Effective Date against the person prescribed in the preceding paragraph pursuant to Article 63-22-20, paragraph (1) or (2) of the Former Payment Services Act (limited to a disposition pertaining to business pertaining to a cryptoasset intermediary act) is deemed to be a disposition under Article 66-20, paragraph (1) or (3) of the New Financial Instruments and Exchange Act (including where those provisions are applied pursuant to paragraph (3)).

With regard to a financial instruments intermediary that, at the time of enforcement of this Act, actually holds registration under Article 63-22-2 of the Former Payment Services Act (including a financial instruments intermediary that has received a registration under Article 63-22-2 of the Former Payment Services Act that, pursuant to Article 39, paragraph (1) of the Supplementary Provisions, the provisions then in force continue to govern), Article 66-5, paragraph (4) of the New Financial Instruments and Exchange Act applies by deeming that financial instruments intermediary to be seeking, on the Effective Date, to change the particulars set forth in Article 66-2, paragraph (1), item (iv) of the New Financial Instruments and Exchange Act (limited to a change pertaining to the addition of cryptoasset purchase and sale intermediary business, etc. as a type of business); in this case, that financial instruments intermediary may engage in cryptoasset purchase and sale intermediary business, etc. for six months counting from the Effective Date (or, in the case where it has filed an application for registration of change under that paragraph and, within that period, a disposition of refusal of registration of change under Article 66-4 of the New Financial Instruments and Exchange Act as applied mutatis mutandis pursuant to paragraph (5) of that Article is made on the application, until the date of that disposition) without receiving registration of change under Article 66-5, paragraph (4) of the New Financial Instruments and Exchange Act with regard to those particulars.

If a financial instruments intermediary that may engage in cryptoasset purchase and sale intermediary business, etc. pursuant to the preceding paragraph has filed an application for registration of change under Article 66-5, paragraph (4) of the New Financial Instruments and Exchange Act by the day on which six months have elapsed counting from the Effective Date, and that period has elapsed without a disposition of registration of change or refusal of registration of change having been made on the application, the same applies as in the preceding paragraph until either of those dispositions is made on the application; provided, however, that this does not apply if two years have elapsed counting from the Effective Date.

The provisions of Article 66-25 of the Financial Instruments and Exchange Act do not apply to the cryptoasset purchase and sale intermediary business, etc. conducted by a financial instruments intermediary that may engage in cryptoasset purchase and sale intermediary business, etc. pursuant to the preceding two paragraphs.

An act that a financial instruments intermediary that may engage in cryptoasset purchase and sale intermediary business, etc. pursuant to paragraph (1) committed prior to the Effective Date and that falls under Article 63-22-20, paragraph (1), item (iii) of the Former Payment Services Act is deemed to be an act falling under Article 66-20, paragraph (1), item (iii) of the New Financial Instruments and Exchange Act.

A disposition made prior to the Effective Date against the financial instruments intermediary prescribed in the preceding paragraph pursuant to Article 63-22-20, paragraph (1) or (2) of the Former Payment Services Act (limited to a disposition pertaining to business pertaining to a cryptoasset intermediary act) is deemed to be a disposition under Article 66-20, paragraph (1) or (3) of the New Financial Instruments and Exchange Act.

A person who may engage in cryptoasset purchase and sale intermediary business, etc. pursuant to Article 18, paragraph (1) of the Supplementary Provisions or paragraph (1) of the preceding Article must notify the Prime Minister of the following particulars within two weeks counting from the Effective Date (for a person who has received registration under Article 63-22-2 of the Former Payment Services Act for which the provisions then in force continue to govern pursuant to Article 39, paragraph (1) of the Supplementary Provisions, within two weeks counting from the date on which the person received that registration):

the particulars set forth in Article 63-22-3, paragraph (1), items (i), (ii), (iv) and (x) of the Former Payment Services Act (including the registration number, in the case of a financial instruments intermediary);

the name and location of the business offices or offices pertaining to the cryptoasset purchase and sale intermediary business, etc.;

the name of the cryptoassets to be handled;

the trade name of the financial instruments business operator that is to be entrusted with the cryptoasset purchase and sale intermediary business, etc. (including a person who may engage in cryptoasset trading business pursuant to Article 8, paragraph (1) or (2) of the Supplementary Provisions);

the content and method of the cryptoasset purchase and sale intermediary business, etc.;

other particulars specified by Cabinet Office Order.

If a person who may engage in cryptoasset purchase and sale intermediary business, etc. pursuant to Article 18, paragraph (1) of the Supplementary Provisions or paragraph (1) of the preceding Article fails to make the notification under the preceding paragraph, or makes a false notification, the provisions of Article 18, paragraph (1) of the Supplementary Provisions and paragraph (1) of the preceding Article do not apply to that person on or after the day on which the period prescribed in the preceding paragraph has elapsed.

A person who may engage in cryptoasset purchase and sale intermediary business, etc. pursuant to Article 18, paragraph (1) or (2) of the Supplementary Provisions or paragraph (1) or (2) of the preceding Article must, when seeking to change any of the particulars set forth in paragraph (1), items (iii) through (v) (excluding cases specified by Cabinet Office Order as those in which there is little risk of failing to protect investors or of hindering the appropriate and reliable performance of the cryptoasset purchase and sale intermediary business, etc.), notify the Prime Minister to that effect in advance.

A person who may engage in cryptoasset purchase and sale intermediary business, etc. pursuant to Article 18, paragraph (1) or (2) of the Supplementary Provisions or paragraph (1) or (2) of the preceding Article must, when there is a change in any of the particulars set forth in the items of paragraph (1) (excluding where the notification under the preceding paragraph has been made), notify the Prime Minister to that effect without delay.

With regard to the application of Article 62-6, paragraph (1), item (viii) of the Payment Services Act as amended by the provisions of Article 3 (hereinafter referred to as the "New Payment Services Act"), a corporation that has had its registration under Article 63-2 of the Former Payment Services Act revoked pursuant to Article 63-17, paragraph (1) or (2) of the Former Payment Services Act, or has had its registration under Article 63-22-2 of the Former Payment Services Act revoked pursuant to Article 63-22-20, paragraph (1) or (2) of the Former Payment Services Act, or has had its registration of the same type held in a foreign state pursuant to the provisions of the laws and regulations of that foreign state comparable to the Former Payment Services Act or the Banking Act, etc. (meaning the Banking Act, etc. prescribed in Article 2, paragraph (34) of the Former Payment Services Act; the same applies in Article 33, paragraph (1) of the Supplementary Provisions) (including other administrative dispositions similar to that registration) revoked, and for which five years have not passed since the date of the revocation, is deemed to be a corporation falling under that item.

With regard to the application of the latter part of Article 62-25, paragraph (8) of the Former Payment Services Act to a person to whom that provision actually applies at the time of enforcement of this Act, the provisions then in force continue to govern.

With regard to the audit, under the provisions of paragraph (3) of that Article, of the status of the management under the provisions of Article 63-11, paragraphs (1) and (2) of the Former Payment Services Act, the provisions then in force continue to govern.

With regard to the audit, under the provisions of Article 63-11, paragraph (3) of the Former Payment Services Act as applied mutatis mutandis pursuant to paragraph (2) of that Article, of the status of the management under the provisions of Article 63-11-2, paragraph (1) of the Former Payment Services Act, the provisions then in force continue to govern.

With regard to the preparation and maintenance of books and documents under the provisions of Article 63-13 of the Former Payment Services Act, the provisions then in force continue to govern.

With regard to the written report under Article 63-14, paragraph (1) of the Former Payment Services Act for a business year that ended prior to the Effective Date and the written report under paragraph (2) of that Article for the period under that paragraph that ended prior to the Effective Date, the provisions then in force continue to govern.

With regard to the application of the provisions of the latter part of Article 63-20, paragraph (2), the latter part of paragraph (8) of that Article, or Article 63-21 of the Former Payment Services Act to a person to whom those provisions actually apply at the time of enforcement of this Act, the provisions then in force continue to govern.

A person who actually holds, at the time of enforcement of this Act, the registration under Article 63-22-2 of the Former Payment Services Act (limited to a registration in which the particulars set forth in Article 63-22-3, paragraph (1), item (v) of the Former Payment Services Act include business pertaining to electronic payment instruments intermediary acts (meaning the electronic payment instruments intermediary acts prescribed in Article 2, paragraph (18) of the Former Payment Services Act; the same applies in the following paragraph and Article 37, paragraph (2) of the Supplementary Provisions); hereinafter the same applies in this paragraph) (including a person who has received the registration under Article 63-22-2 of the Former Payment Services Act that, pursuant to Article 39, paragraph (1) of the Supplementary Provisions, the provisions then in force continue to govern) is deemed to be a person who held the registration under Article 63-2 of the New Payment Services Act on the date of that registration.

The register of electronic payment instruments and cryptoasset intermediary service providers under Article 63-22-4, paragraph (1) of the Former Payment Services Act (limited to the part pertaining to business pertaining to electronic payment instruments intermediary acts) is deemed to be the register of electronic payment instruments intermediary service providers under Article 63-4, paragraph (1) of the New Payment Services Act.

With regard to the application of Article 63-5, paragraph (1), item (i), (e) of the New Payment Services Act, a person who has had registration under Article 63-2 of the Former Payment Services Act revoked pursuant to Article 63-17, paragraph (1) or (2) of the Former Payment Services Act, or has had registration under Article 63-22-2 of the Former Payment Services Act revoked pursuant to Article 63-22-20, paragraph (1) or (2) of the Former Payment Services Act, or has had its registration of the same type held in a foreign state pursuant to the provisions of the laws and regulations of that foreign state comparable to the Former Payment Services Act or the Banking Act, etc. (including other administrative dispositions similar to that registration) revoked, and for whom five years have not passed since the date of the revocation, is deemed to be a person falling under (e) of that item.

With regard to the application of Article 63-5, paragraph (1), item (ii), (b)(5) of the New Payment Services Act, in the case where a corporation that is an electronic payment instruments and cryptoasset intermediary service provider has had its registration under Article 63-22-2 of the Former Payment Services Act revoked pursuant to Article 63-22-20, paragraph (1) or (2) of the Former Payment Services Act, or in the case where a corporation has had its registration of the same type held in a foreign state pursuant to the provisions of the laws and regulations of that foreign state comparable to the Former Payment Services Act (including other administrative dispositions similar to that registration) revoked, a person who was an officer of the corporation within 30 days prior to the date of the revocation and for whom five years have not passed since the date of the revocation, and any other person specified by Cabinet Order as equivalent thereto, is deemed to be a person falling under (b)(5) of that item.

With regard to the liability to compensate for damage prescribed in Article 63-22-14 of the Former Payment Services Act pertaining to an act set forth in item (ii) of that Article committed prior to the Effective Date, the provisions then in force continue to govern.

With regard to the preparation and maintenance of books and documents under the provisions of Article 63-22-16 of the Former Payment Services Act, the provisions then in force continue to govern.

The provisions of Article 63-17 of the New Payment Services Act apply to the written report under that Article for a business year ending on or after the Effective Date, and with regard to the written report under Article 63-22-17 of the Former Payment Services Act for a business year that ended prior to the Effective Date, the provisions then in force continue to govern.

An act committed prior to the Effective Date by a person deemed, pursuant to Article 32, paragraph (1) of the Supplementary Provisions, to have held the registration under Article 63-2 of the New Payment Services Act, that falls under Article 63-22-20, paragraph (1), item (iii) of the Former Payment Services Act, is deemed to be an act falling under Article 63-20, paragraph (1), item (iii) of the New Payment Services Act.

A disposition made prior to the Effective Date against the person prescribed in the preceding paragraph pursuant to Article 63-22-20, paragraph (1) or (2) of the Former Payment Services Act (limited to a disposition pertaining to business pertaining to electronic payment instruments intermediary acts) is deemed to be a disposition under Article 63-20, paragraph (1) or (2) of the New Payment Services Act.

With regard to the application of the provisions of the latter part of Article 63-22-23, paragraph (3), or Article 63-22-24, paragraph (1) or (2) of the Former Payment Services Act to a person to whom those provisions actually apply at the time of enforcement of this Act, the provisions then in force continue to govern.

With regard to dispositions on the following applications made prior to the enforcement of this Act, the provisions then in force continue to govern:

an application for the registration under Article 63-2 of the Former Payment Services Act with regard to which no disposition as to whether to grant the registration has been made at the time of enforcement of this Act;

an application for the registration under Article 63-22-2 of the Former Payment Services Act with regard to which no disposition as to whether to grant the registration has been made at the time of enforcement of this Act.

With regard to the registration and license tax pertaining to the registration set forth in the items of that paragraph for which the provisions then in force continue to govern pursuant to the provisions of the preceding paragraph, the provisions then in force continue to govern.

The Prime Minister delegates the authority under Article 7, paragraph (1), Article 10, paragraphs (1), (3) and (4), Article 17, paragraph (2) and Article 20, paragraphs (1), (3) and (4) of the Supplementary Provisions to the Commissioner of the Financial Services Agency.

The Commissioner of the Financial Services Agency may, pursuant to the provisions of Cabinet Order, delegate the authority delegated pursuant to the provisions of the preceding paragraph to the Director-Generals of Local Finance Bureaus or Local Finance Branch Bureaus.

The government is to, targeting five years after the enforcement of this Act, take into account the status of enforcement of the respective Acts as amended by this Act (hereinafter referred to as the "respective Acts as amended" in this Article) and other circumstances, and if it finds it necessary, review the provisions of the respective Acts as amended and take required measures based on the results.