Internet reports that the Japanese Senate passed an amendment to the Fund Settlement Law on June 6, establishing a new system of "crypto asset intermediation", allowing companies to engage in matchmaking services without registering as crypto asset exchange operators, aiming to reduce market access barriers and promote crypto financial innovation. The amendment also adds a "domestic retention order" clause, giving the government the power to order the platform to keep some user assets in Japan when necessary to prevent the risk of asset outflow caused by events like FTX bankruptcy. The new law is expected to come into effect within one year from the date of promulgation.