Japanese regulators Considering removing the limitation of cryptocurrency some important This involves the use of stablecoins such as Tether ( USDT ) or USD Coin ( USDC ).
Japan’s Financial Services Agency (FSA) will lift a ban on the sale of foreign-issued stablecoins in the country in 2023, local news agency Nikkei reported. reporton December 26
New regulations for stablecoins in Japan will allow exchanges in the country to manage trading of stablecoins under the condition of preserving assets by deposit and setting a maximum limit for remittances. “If payments using Stablecoins are accepted. International money transfers could be faster and cheaper,” the report said.
Stablecoins in Japan will also be subject to additional regulations related to anti-money laundering controls, according to the FSA. Japan’s parliament passed a bill to ban the issuance of stablecoins by non-banking institutions in June 2022.
The latest measures will have a big impact on trading services. cryptocurrency offered in Japan Because there are currently no exchanges in the country that offer stablecoin trading such as USDT or USDC.
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