Japan is Planning to Lift its Ban on Foreign Stablecoins in 2023

• Brandon Davis
• December 27, 2022
• Crypto, News
• 0 Comments

• 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.

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