Japan is Planning to Lift its Ban on Foreign Stablecoins in 2023
- According to local news outlets, Japanese officials are considering eliminating the ban on crypto restrictions connected to international stablecoins such as USD Coin and Tether in 2023.
- As per news agency Nikkei, Japan’s Financial Services Agency (FSA) will examine key cryptocurrency restrictions relating to the distribution of foreign-issued stablecoins in 2023.
- In June 2022, Japan’s parliament passed legislation prohibiting non-banking institutions from issuing stablecoins.
- Japan decided to relax the prohibition on stablecoin issuance just a few days after the country issued another piece of very encouraging cryptocurrency news.