Japan's Stablecoin Regulation Tackles Major Issues

Adekunle Joshua

Stablecoins in Japan are now regulated

While other countries debate, Japan takes action

Initially, stablecoins were banned in Japan, but they are now permitted

Stablecoins are a big business with a global worth of over $124 billion

The challenge lies in making them both safe and profitable

Big companies, including Binance Japan, are planning to create new stablecoins under Japan's regulations

Certain companies can issue stablecoins, partnering with Japanese banks to comply with the rules

All funds backing a stablecoin must be held in Japanese banks, with low interest rates posing profitability challenges.