TechFlame News - According to the *Nihon Keizai Shimbun*, Japan's revised Financial Instruments and Exchange Act was passed by a plenary session of the House of Councillors on July 15, officially bringing crypto assets (virtual currencies) under the regulatory framework of financial instruments. While the new law strengthens user protection, it also requires exchanges to set aside liability reserves. Industry observers widely expect this move to serve as a major catalyst for market consolidation and restructuring. Saito Masahiko, Director of the Financial Services Agency's Market Regulation Division, made it clear that the FSA neither endorses nor recommends any crypto asset transactions.