PANews reported on June 8 that according to CoinPost, the Japanese Senate passed an amendment to the Funds Settlement Act. The current bill was submitted to Congress in March this year, including the establishment of a new "intermediary business" for cryptocurrency services. The amendment aims to respond to the process of financial digitalization while ensuring user protection and promoting innovation. It allows companies to engage in matchmaking services without registering as crypto asset exchange operators, aiming to lower market entry barriers and promote crypto financial innovation. The amendment also adds a "domestic retention order" clause, giving the government the power to order platforms to retain some user assets in Japan when necessary to prevent the risk of asset outflows caused by similar FTX bankruptcy incidents. The new law is expected to be officially implemented within one year from the date of publication.