The Cabinet of Japan has approved a proposal to amend the Payment Services Act, which would ease regulations for stablecoins and crypto brokerages. The bill has already been submitted to the National Diet and, if passed, it would make it easier for crypto firms to enter the Japanese market. The bill would allow stablecoins to be backed by short-term government bonds and fixed-term deposits, and create a new category for intermediary crypto businesses or brokerages. Additionally, the bill would separate the requirements and anti-money laundering obligations for intermediaries from crypto exchanges.



Other News from Today