{"id":542533,"date":"2023-01-23T16:55:38","date_gmt":"2023-01-23T13:55:38","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/japans-fsa-expects-to-allow-certain-stablecoins-by-june-2023\/"},"modified":"2023-01-23T16:55:38","modified_gmt":"2023-01-23T13:55:38","slug":"japans-fsa-expects-to-allow-certain-stablecoins-by-june-2023","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/japans-fsa-expects-to-allow-certain-stablecoins-by-june-2023\/","title":{"rendered":"# Japan\u2019s FSA expects to allow certain stablecoins by June 2023"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_84 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-6a2729ab6c0f0\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #dd3333;color:#dd3333\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #dd3333;color:#dd3333\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-6a2729ab6c0f0\" checked aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-1'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/buradabiliyorum.com\/en\/japans-fsa-expects-to-allow-certain-stablecoins-by-june-2023\/#%E2%80%9D_Japans_FSA_expects_to_allow_certain_stablecoins_by_June_2023_%E2%80%9C\" >&#8221; Japan\u2019s FSA expects to allow certain stablecoins by June 2023 &#8220;<\/a><\/li><\/ul><\/nav><\/div>\n<h1><span class=\"ez-toc-section\" id=\"%E2%80%9D_Japans_FSA_expects_to_allow_certain_stablecoins_by_June_2023_%E2%80%9C\"><\/span>&#8221; Japan\u2019s FSA expects to allow certain stablecoins by June 2023 &#8220;<span class=\"ez-toc-section-end\"><\/span><\/h1>\n<p><img decoding=\"async\" src=\"https:\/\/images.cointelegraph.com\/images\/840_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjMtMDEvNWZmOTY3MzEtNzJhZC00ZmI3LWJkMjYtNGNhMzk4ZTJlNjZlLmpwZw==.jpg\" \/><\/p>\n<div class=\"post-content\" data-v-5a4050f8>Japan\u2019s new regulations allowing investors to trade using stablecoins like Tether (USDT) are expected to be adopted no later than in June 2023, according to a local financial authority.<\/p>\n<p>The Financial Services Agency (FSA) of Japan is working on lifting the ban on the domestic distribution of stablecoins, planning to allow certain stablecoins later this year.<\/p>\n<p>\u201cThis does not mean that all foreign products of so-called \u2018stablecoins\u2019 will be allowed without any restriction,\u201d a spokesperson for Japan&#8217;s FSA said in a statement to Cointelegraph.<\/p>\n<p>FSA will only allow stablecoins that successfully pass individual checks ensuring that such cryptocurrencies are safe from the viewpoint of user protection, the FSA representative stated. Examples include foreign issuers in their countries being subject to equivalent regulations in Japan, with underlying assets being preserved <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/download-scripts-themes-apps\/\" data-internallinksmanager029f6b8e52c=\"9\" title=\"Download Scripts &amp; Themes &amp; Apps\" target=\"_blank\" rel=\"noopener\">app<\/a>ropriately, the spokesperson added.<\/p>\n<p>The authority also stressed that there is no chance of knowing whether major stablecoins like Tether (USDT) or USD Coin (USDC) will be allowed. \u201cFSA does not provide any opportunity to access such information before the decision is made,\u201d the representative said.<\/p>\n<p>Japan\u2019s new stablecoin regulations are part of the proposed cabinet orders and cabinet office ordinances on the amendment to the Payment Services Act of 2022. Introduced in December 2022, the new rules aim to establish requirements for electronic payment instruments and develop the related registration procedures.<\/p>\n<p>According to the official data, the FSA will accept public comments regarding the Payment Services Act changes until Jan. 31, 2023.<\/p>\n<p>\u201cIt is scheduled to be promulgated and enforced through necessary procedures upon closure of the public comment, therefore, the exact date is not decided yet,\u201d a FSA spokesperson said. FSA noted that the law enforcement deadline is set for early June.<\/p>\n<p><strong><em>Related: <\/em><\/strong><strong><em>Japanese regulators want crypto treated like traditional banks<\/em><\/strong><\/p>\n<p>As previously reported, Japan\u2019s parliament passed a bill to ban foreign stablecoins in June 2022, requiring stablecoin issuers to link such cryptocurrencies only to the Japanese yen or another legal tender.<\/p>\n<p>The new legislation, which is expected to take effect in 2023, has apparently impacted many crypto firms as none of the 31 FSA-registered Japanese exchanges have since offered stablecoin operations. Some major crypto exchanges, including Coinbase and Kraken, have recently pulled operations in Japan, citing a weak crypto market.<\/p>\n<p><template data-name=\"subscription_form\" data-type=\"markets_outlook\"><\/template><\/div>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. Follow us on\u00a0<span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMLG0nwswvr63Aw\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\">For forums sites go to <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/forum.buradabiliyorum.com\/\" target=\"_blank\" rel=\"noopener\">Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong>\n<\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\"><strong>If you want to read more <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">News<\/a> articles, you can visit our <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/en.buradabiliyorum.com\/general\/\" target=\"_blank\" rel=\"noopener\">General category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<p><span style=\"color: black;\"><a style=\"color: #ff9900;\" href=\"https:\/\/cointelegraph.com\/news\/japan-s-fsa-expects-to-allow-certain-stablecoins-by-june-2023\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8221; Japan\u2019s FSA expects to allow certain stablecoins by June 2023 &#8220; Japan\u2019s new regulations allowing investors to trade using stablecoins like Tether (USDT) are expected to be adopted no later than in June 2023, according to a local financial authority. The Financial Services Agency (FSA) of Japan is working on lifting the ban on&#8230;<\/p>\n","protected":false},"author":1,"featured_media":542534,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/images.cointelegraph.com\/cdn-cgi\/image\/format=auto,onerror=redirect,quality=90,width=1200\/https:\/\/s3.cointelegraph.com\/uploads\/2023-01\/5ff96731-72ad-4fb7-bd26-4ca398e2e66e.jpg","fifu_image_alt":"","footnotes":""},"categories":[1],"tags":[74867,74863,88156,75493,20618,70934],"class_list":["post-542533","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general","tag-altcoin","tag-cryptocurrencies","tag-fsa","tag-stablecoin","tag-japan","tag-regulation"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/542533","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=542533"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/542533\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/542534"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=542533"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=542533"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=542533"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}