East Asia’s giant island nation stablecoin It is preparing to lift the restrictions on its projects in the near future.
According to the news published today by Nikkei, one of Japan’s largest media organs. USDT and USDC Bans on external stablecoins such as In return, the government decided to impose some controls on money transfers in the crypto sector.
According to the source, local crypto exchanges in the country will impose a transfer cap on customers for stablecoin transactions. While the transfer limit per person is expected to be around $ 7500, there is no information about the period between which the limit will be renewed.
Government Requests Customer Information from Exchanges
The Japanese government seems to be lifting restrictions just by looking at the headline, but the reality is very different. Japan Financial Services Agency (FSA) has lifted the ban on foreign stablecoins. cryptocurrency will make some new demands from the stock exchanges.
With the new regulation, the FSA will have the right to request identity information and information about money transfers from all Japanese citizens trading on local cryptocurrency exchanges. Authorities believe that the new rules they apply will play an important role in the fight against black money.
For exclusive news, analytics and on-chain data Telegram our group, twitter our account and YouTube Follow our channel now! Moreover Android and iOS Start live price tracking right now by downloading our apps!