Japan’s Financial Services Agency is pushing to relax restrictions on trust banks issuing stablecoins, according to Nikkei. The proposed changes would remove cumbersome procedures such as document submissions and allow stablecoins to be used in large-value payment scenarios, including automobiles and real estate.
Under the plan, single stablecoin transactions could exceed 1 million yen. The relevant measures are expected to be included in Japan’s tax reform requests, which will be finalized soon.
Japan Plans to Ease Stablecoin Rules for Large-Value Payments
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