Regulators in Japan could lift restrictions on cryptocurrencies on stablecoins issued by foreign institutions.
According to local news sources, the Financial Services Authority (FSA) in Japan, Tether (USDT), USD Coin (USDC) the restriction imposed on the distribution of stablecoins issued by foreign institutions such as considering removing.
With the change expected to be implemented in 2023, it is thought that local exchanges in Japan may start offering trading services for these stablecoins, but an upper limit may be set for payment transactions.
Also, transactions with foreign stablecoins in the country will have to be subject to anti-money laundering law.