Financial Services Agency to Propose Enabling Transactions Over 1 Million Yen in Stablecoins

Proposal to Ease Regulations on Stablecoins

The Financial Services Agency is set to include in its upcoming tax reform proposal a relaxation of trust-based regulations on Japanese yen stablecoins, allowing individuals to conduct transactions exceeding the de facto limit of 1 million yen. This was reported by Nikkei on the 24th.

As of the time of writing this article, the Financial Services Agency's tax reform proposal has not been made public, but according to reports, the proposal will simplify the procedures associated with transactions of trust-based stablecoins, facilitating smoother...