Financial Services Agency Establishes New Cryptocurrency and Stablecoin Division Amid Organizational Restructuring on August 7

Establishment of Cryptocurrency and Stablecoin Division

On the 7th, the Financial Services Agency (FSA) implemented an organizational restructuring, establishing a new division dedicated to cryptocurrencies and stablecoins, named the "Cryptocurrency and Stablecoin Division." This was announced by the FSA on August 5, 2026. According to the new and old organizational correspondence table released by the FSA, this division is a successor to the "Cryptocurrency, Blockchain, and Innovation Advisory Office," which was under the Risk Analysis Division of the Comprehensive Policy Bureau, and after the restructuring, it will be placed directly under the Asset Management and Insurance Supervisory Bureau.

This restructuring aims to address challenges such as promoting asset management as a national strategy, responding to the digitalization of the financial sector, and enhancing monitoring capabilities. The Comprehensive Policy Bureau and the Supervisory Bureau will be reorganized into two bureaus: the "Banking and Securities Supervisory Bureau" and the "Asset Management and Insurance Supervisory Bureau," with the Cryptocurrency and Stablecoin Division belonging to the latter. The advisory office is a smaller organizational unit than a division, and its elevation to a division signifies a strengthening of the regulatory framework in the relevant fields.

According to the new and old organizational correspondence table, the Cryptocurrency and Stablecoin Division will continue to house the Cryptocurrency Monitoring Office, while the former Innovation Promotion Office will be divided into two offices: the Innovation Promotion Office and the Digital Payment Planning Office. In addition to the monitoring functions previously handled by the advisory office, planning functions will also be consolidated within this division.

The name of the division has removed the term "Blockchain Innovation" and added "Stablecoin." As the issuance and circulation of stablecoins expand both domestically and internationally, it is believed that there is a clear intention to focus the supervisory framework on stablecoins as well.

Elevation from Advisory Office to Division Strengthens Regulatory Framework

The elevation from an advisory office to a division is expected to enhance the relative standing of the cryptocurrency and stablecoin sector within the FSA. With the responsible organization becoming independent at the division level, a centralized system for regulatory planning and monitoring functions will be established.

New Payment Settlement Division Established, Related Organizations Transferred

In addition to the elevation of the Payment Settlement Advisory Office to the Payment Settlement Division, the Financial Services Intermediary Office, Electronic Payment Agency Office, and Payment and Digital Finance Group Monitoring Office will be transferred to the Payment Settlement Division. All of these organizations were previously under the Risk Analysis Division of the Comprehensive Policy Bureau and will oversee the payment sector as a separate division from the Cryptocurrency and Stablecoin Division.

The organizational restructuring will take effect on August 7, 2026, and transitional measures will be put in place to treat documents and application forms created before the restructuring as valid for the time being.

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