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Japan to Propose Restricting Stablecoin Issuers to Banks and Wire Transfer Companies

Technology Manias – EᐯEᖇYTᕼIᑎG YOᑌ ᑎEEᗪ IᑎᗪEEᗪ

Japan’s top financial regulator, the Financial Services Agency (FSA), is reportedly planning to propose legislation to restrict stablecoin issuance to banks and wire transfer companies. Crypto service providers involved in stablecoin transactions, including wallets, will also be brought under the financial regulator’s oversight. Japan to Tighten Stablecoin Regulation Japan’s Financial Services Agency (FSA) is planning to tighten the regulation of stablecoins by imposing strict rules on their issuers, Nikkei reported Monday, stating: The Financial Services Agency seeks to propose legislation in 2022 to restrict issuance of stablecoins to banks and…

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