Bitget App
Trade smarter
Buy cryptoMarketsTradeFuturesBotsEarnCopy
Japan's Stablecoin Regulations Pose Challenges for Issuers

Japan's Stablecoin Regulations Pose Challenges for Issuers

CointimeCointime2023/10/25 20:36
By:Cointime

Japan has taken the lead in regulating stablecoins, implementing a stablecoin law in June. The regulations aim to address concerns about the assets backing stablecoins and their accessibility. Only banks, trust companies, and fund transfer services are allowed to issue stablecoins in Japan, and stablecoin issuers must establish a trust within the country to hold the assets. However, the strict regulations have made it challenging for companies to issue yen-based stablecoins due to the low interest rate for Japanese bank deposits and high compliance costs.

0

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

PoolX: Locked for new tokens.
APR up to 10%. Always on, always get airdrop.
Lock now!

You may also like

Friday charts: The Marvin Minsky moment is here

Have markets been obsessing over the wrong Minsky?

Blockworks2025/04/26 08:00
Friday charts: The Marvin Minsky moment is here

Charles Hoskinson Reveals Exciting Plans for Lace Wallet’s XRP Functionality

In Brief Charles Hoskinson announces XRP functionality for Lace wallet. Integration aims to enhance multi-chain support and user experience. Upcoming NIGHT token distribution includes XRP holders.

Cointurk2025/04/26 08:00
Charles Hoskinson Reveals Exciting Plans for Lace Wallet’s XRP Functionality