Japan Finalizes Rules for Stablecoins, Crypto Intermediaries and Funds Transfers

The Japanese financial regulator has introduced a comprehensive set of rules governing the use of stablecoins, crypto assets, and electronic payment services. The new regulations are designed to provide a clearer framework for companies operating in these areas.

One of the key changes is the expansion of reserve assets that can be invested by trust-type electronic payment methods. Under the new rules, issuers will be allowed to invest in government bonds and cancellable fixed-term deposits, in addition to demand deposits.

The regulations also introduce a new intermediary category for electronic payment instruments and crypto assets. This category is designed to regulate only firms that act as intermediaries, rather than imposing a full-scale licensing burden on those that hold client assets.