Japan's Financial Services Agency (FSA) has released its budget, organization, and staffing requirements for fiscal year 2026. In the request, the agency proposed a major restructuring, including the creation of a new "cryptocurrency and innovation department" and a budget of 25 billion yen (1.19 billion yen more than the previous fiscal year), or about $170 million.
According to the public document, the FSA identified the topic of the restructuring as "the need to use new digital technologies such as fintech, cryptocurrency trading, and artificial intelligence to strengthen the ability to respond to changes in financial services". The proposed responses include renaming and restructuring the existing "Integrated Policy Bureau" into the "Asset Management and Insurance Regulatory Authority (tentative name) ", establishing a "Cryptocurrency and Innovation Division" under the new bureau, and upgrading the existing "Cryptocurrency and Innovation Advisory Office" to "Cryptocurrency and Innovation Division".
Japan's Financial Services Agency will restructure and establish a new crypto and innovation department next year
2025-08-29 13:00:47
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