The Financial Services Agency (FSA) is considering a new licensing system that would require these service providers to register with authorities, creating a more resilient and secure financial infrastructure.
In a powerful show of unity, Japan’s three banking giants—Mizuho, MUFG, and SMBC—are collaborating on a shared stablecoin project with the full support of the national financial regulator.
JPYC Inc. has launched Japan’s first legally recognized yen-pegged stablecoin, JPYC, beginning trading on Monday.
Japan’s financial watchdog is preparing to allow banking groups to establish cryptocurrency trading services, the Nikkei reported.
A major review of Japan’s financial regulations is underway, with the Financial Services Agency (FSA) considering a carefully calibrated move to permit local banks to engage in cryptocurrency activities.
Japan is set to explicitly ban insider trading in cryptocurrencies.
The current system treats crypto profits as “miscellaneous income,” hitting top earners with a tax rate of up to 55%. That’s all set to change.
