Crypto Updates

Stablecoins Will Re-Enter Japan? FSA Works on Regulations

FTX Expands Global Presence, Launches FTX Japan

intends to allow local investors to trade foreign stablecoins such as USD Coin
(USDC) or Tether (USDT) no later than the end of the second quarter of 2023, The
Financial Services Agency (FSA) reported.

the FSA is unlikely to allow all foreign stablecoins, and the final list is still
unknown. A spokesperson for the FSA told Cointelegraph that restrictions
may still be imposed on some of them.

Japanese regulator will conduct its own compliance checks to confirm that
stablecoins will be safe for local users. Ultimately, the most popular ones could
not be allowed to enter the market. However, Details on the matter have not
been provided.

FSA does not provide any opportunity to access such information before the
decision is made,” a spokesperson for the regulator said.

It was
first reported that Japan would loosen stablecoin

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