Stablecoins Will Re-Enter Japan? FSA Works on Regulations

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.

However,
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.

The
Japanese regulator will conduct its own compliance
Compliance

In finance, banking, investing, and insurance compliance refers to following the rules or orders set down by the government regulatory authority, either as providing a service or processing a transaction. Compliance concerning finance would also be a state of being following established guidelines or specifications. This designation can also encompass efforts to ensure that organizations are abiding by both industry regulations and government legislation. Understanding ComplianceCompliance is a

In finance, banking, investing, and insurance compliance refers to following the rules or orders set down by the government regulatory authority, either as providing a service or processing a transaction. Compliance concerning finance would also be a state of being following established guidelines or specifications. This designation can also encompass efforts to ensure that organizations are abiding by both industry regulations and government legislation. Understanding ComplianceCompliance is a
Read this Term 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.