Japan Will Allow the Use of Stablecoins
Japanese crypto exchanges currently can’t support stablecoins whose issuers are not registered in the country. As a result, transactions with fiat-backed digital currencies are prohibited on all licensed trading floors in Japan.
This registry currently includes 31 exchanges. However, the Financial Services Agency (FSA) plans to abandon next year the ban on the use of stablecoins that were issued by foreign developers.
Japanese exchanges will be able to process USDT and USDC trades. Representatives of the regulator have not yet published any official comments in connection with the information received.
The decision to lift the ban on transactions with stablecoins is most likely part of a government program to stimulate the growth of the blockchain industry in the country.
