Japan's Financial Services Agency, in collaboration with the Ministry of Land, Infrastructure, Transport and Tourism, the National Police Agency, and the Ministry of Finance, has issued a joint directive to tighten regulations on cryptocurrency transactions in the real estate sector. Effective April 28, 2026, the new rules mandate comprehensive identity checks and reporting of suspicious transactions to prevent illegal money from entering the real estate market through crypto payments. The directive targets major real estate and crypto industry associations, emphasizing that real estate firms cannot independently handle or convert cryptocurrencies without approval. Additionally, new foreign exchange reporting rules require individuals receiving over 30 million yen in crypto from abroad to report it, and foreign property buyers must file reports post-purchase. These measures aim to enhance transparency and curb money laundering risks associated with crypto in real estate.