The Japanese Senate passed an amendment to the Funds Settlement Act to establish a new system for the "Crypto Asset Intermediary Industry"

Mars Finance News, on June 8, according to CoinPost, the Japanese House of Councillors passed an amendment to the Fund Settlement Law on June 6, establishing a new system for "crypto asset intermediary business" that allows companies to provide matching services without registering as crypto asset exchange operators, thereby lowering market entry barriers and promoting crypto financial innovation. The amendment adds a "domestic retention order" clause, granting the government the power to order platforms to retain part of users' assets within Japan when necessary, preventing asset outflow risks similar to the FTX bankruptcy event. The new law is expected to be officially implemented within one year from the date of its announcement.