Today's Focus: Financial Regulation & Compliance — Friday, 12 June 2026
Today's Top Story
Japan's Stablecoin Regime Hits Full Force Tomorrow
Japan's amended Payment Services Act (Law No. 66 of 2025) reaches its statutory full-implementation limit tomorrow, 13 June — one year to the day after promulgation. The principal provisions already entered into force on 1 June 2026 under the implementing cabinet order, including reserve, custody, and redemption rules for electronic payment instruments (stablecoins), a new registration category for crypto-asset and EPI intermediaries, and domestic asset-holding orders. Foreign trust-type stablecoins are classified as electronic payment instruments under the regime. Any Japan-facing stablecoin or intermediary activity must be registered or covered by a transition arrangement by tomorrow.
Also Today
Basel III Endgame comments close 18 June — six days left. The Fed/OCC/FDIC three-part capital overhaul (19 March 2026) would, per the agencies' estimates, cut CET1 requirements roughly 4.8% for G-SIBs, 5.2% for regional banks, and 7.8% for community banks. Submit comment letters on all three proposals by 18 June. Source
MiCA transition ends EU-wide 1 July — no extensions. ESMA confirms the grandfathering period for crypto-asset service providers expires uniformly in 19 days. Unauthorised CASPs must execute wind-down plans and stop serving EU clients; authorised CASPs should complete client migration first. Source
Form PF burden-reduction comments close 23 June. The joint SEC–CFTC proposal would raise the filing threshold from $150 million to $1 billion in private fund AUM and lift the large-hedge-fund-adviser exposure threshold from $1.5 billion to $10 billion. Private fund advisers: assess the threshold impact and file comments. Source
⏰ Deadline Alert
Tomorrow (13 June): Japan PSA 2025 full-implementation outer limit
18 June (6 days): Basel III Endgame re-proposal comment deadline
One Thing to Do Today
Confirm any Japan-facing stablecoin, custody, or intermediary activity is registered — or squarely within a transition arrangement — before tomorrow's PSA deadline.
Monday's Focus
Cybersecurity, Data Security & Cloud Security — EU CRA reporting countdown, the Netherlands' NIS2 law, and CIRCIA town halls.
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