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Japan’s FSA to introduce new legislation on stablecoin issuers in 2022
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Stablecoins have thrived in unregulated shadows, with tokens in circulation now worth more than $127 billion. Today, these are widely being used for transactions that resemble traditional financial products. For example, bank savings accounts, but perhaps without offering the same level of consumer protection.
Now, it is worth noting that scrutiny has been ratcheting up as stablecoins surge in popularity.
First, it was the United States to share concerns over stablecoins such as Tether. But now, unease seems to be emerging from Japan.
<p lang=«en» dir=«ltr» xml:lang=«en»>*STABLECOINS TO FACE NEW RESTRICTIONS IN JAPAN, NIKKEI SAYShttps://t.co/ePFC78efJv— *Walter Bloomberg (@DeItaone) December 6, 2021
Japan’s top banking regulator will introduce
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