Japan Finalizes Comprehensive Stablecoin and Crypto Intermediary Regulations

The Japanese Financial Services Agency (FSA) has completed a comprehensive overhaul of rules governing stablecoins and crypto intermediaries. As part of the regulatory update, new guidelines have been established for trust-type electronic payment methods, allowing reserve assets to be invested in government bonds under certain conditions.

The revised framework introduces more detailed compliance requirements for issuers and custodians, including clearer safeguards against principal loss. The FSA has also created a new intermediary category for electronic payment instruments and crypto assets, with explicit rules covering registration, disclosure, and user protection measures.