The Japanese Financial Services Agency (FSA) has approved a report recommending reforms that would ease regulations for stablecoins and crypto brokerage. The proposed changes impact two key payment-related laws, aiming to make it easier for businesses to handle crypto assets. One reform would allow stablecoins to be backed by short-term government bonds and fixed-term deposits, in addition to demand deposits, with an upper limit of 50% on collateral. The report also suggests creating a new category for "intermediary" crypto businesses, subject to their own requirements and anti-money laundering obligations. This is expected to make it easier for crypto firms to enter the Japanese market. The FSA is also considering classifying cryptocurrencies as financial products, similar to securities, rather than payment tools.



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