The Japanese Financial Services Agency (FSA) has released a report proposing to transfer cryptocurrency regulation from the Payment Services Act (PSA) to the Financial Instruments and Exchange Act (FIEA) to strengthen information disclosure, regulate IEOs (Initial Exchange Offerings), and crack down on unregistered platforms. The new framework requires exchanges to disclose issuer details and conduct independent code audits prior to token sales, and issuers must publicly reveal their identities and token distribution mechanisms. The plan also aims to introduce insider trading prohibitions, referencing the EU's MiCA regulation and related South Korean laws. (Cointelegraph)