Article 63-5Refusal of Registration

一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);

二a foreign cryptoasset exchange service provider that is a corporation who does not have a representative person in Japan (limited to a person who is domiciled in Japan);

三a corporation lacking a sufficient financial foundation that satisfies the requirements specified by Cabinet Office Order as those found to be necessary for the provision of the cryptoasset exchange service in a proper and steady manner;

四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;

五a corporation that has not established a system that is necessary for ensuring compliance with the provisions of this Chapter;

六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;

七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;

八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;

九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;

十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;

十一a corporation conducting other business, which is found to be against the public interest;

十二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:

イ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;

ロ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;

ハ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;

ニ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;

ホ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.