Japan's Financial Services Agency will lift the ban on Stablecoin distribution in Japan in 2023

BlockBeats news, December 26, according to Coinpost, Japan's Financial Services Agency will lift the circulation ban of Stablecoin issued overseas in Japan in 2023, and plans to draw up relevant guidelines to cooperate with the implementation of the latest Fund Settlement Law in 2023. For Stablecoin issued in Japan, the issuer is obliged to prepare the backing assets as collateral, and the issuer is limited to banks, registered transfer agents, trust companies, etc. In addition, regarding the lifting of the ban on scheduled overseas Stablecoins, it is proposed to cap remittances at 1 million yen each time. The Financial Services Agency said it would start soliciting comments on the draft today.