JPYC, the issuer of the yen stablecoin, has begun sending refund instruction emails to users affected by non-compliant deposits on the JPYC EX platform since September 17. The refunds address transactions that violated deposit rules, including unreserved deposits, amount mismatches, and applications canceled after funds were transferred. Transactions still marked as "under review" and other outstanding inquiries are being processed individually. JPYC has not provided an estimated completion timeline for resolving these remaining cases.