BlockBeats news, on September 26, according to Nihon Keizai Shimbun, Japan’s Financial Services Agency (FSA) announced on September 24 that it plans to reform the country’s regulations related to crypto games, aiming to simplify the process for companies to handle in-game crypto assets. This regulatory reform may significantly lower the threshold for Japanese companies to enter the blockchain game market and encourage more large domestic companies to enter the blockchain game field. The main contents of the reform include:

1. The Financial Services Agency will set up a special working group to revise the current Payment Services Act.

2. Discuss the establishment of a new system to simplify the process of enterprises handling crypto assets.

3. It may reduce the burden on enterprises in terms of compensation fund preparation, etc.

4. It is expected to make it more convenient to use cryptocurrency to purchase props in the game.

The Financial Services Agency launched a working meeting of the Financial Review Committee on September 25 and officially began discussing the revision of the Fund Settlement Law. Currently, if companies need to provide functions such as virtual currency purchases in their own services, they must obtain an exchange operator license. This requirement involves asset management and compensation fund preparation, which brings a heavy burden to companies.

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