The Japanese Parliament approved the security law for stablecoins.
According to a report by Bloomberg on June 3, Japan’s parliament has made a decision for investors after the collapse of TerraUST. create a security framework stablecoin law in order to Confirmed.
In the news of Bloomberg, Japan’s law was enacted among the world’s largest economies. was one of the first laws is stated.
By law, citizens of Japan can only purchase stablecoins. licensed banks and from authorized institutions can supply. Cryptocurrency exchanges in Japan where the bill does not address algorithmic stablecoins tied to a fiat. It is said that it does not list stablecoins.
The bill, prepared by Japan’s Financial Services Agency (FSA), at the end of 2021 It was planned and was announced by the councilors on 3 June. accepted.
TerraUSD after the event The financial authorities of many countries have begun to take measures against stablecoins and to protect its citizens it’s working.
The UK Ministry of Finance announced on May 31 that a major stablecoin like UST will have more rules in case of collapse It was said that he was planning to regulate it.
UK Plans To Introduce New Regulation Against Stablecoins
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