Japan’s Financial Regulator Unveils Dual Measures for Crypto Innovation and Oversight
Japan’s Financial Services Agency (FSA) today unveiled two significant measures to advance the nation’s cryptocurrency sector.
The financial regulator is backing a stablecoin proof-of-concept with top banks. Meanwhile, proposals are being introduced for enhanced regulations on crypto lending and initial exchange offerings (IEOs).
On November 7, the FSA introduced the Payment Innovation Project (PIP) as part of its FinTech Experimental Hub. The initiative brings together some of Japan’s leading financial institutions to jointly test the issuance of stablecoins within a regulated environment.
The participants include the Mizuho Bank, Mitsubishi UFJ Bank, Mitsubishi Corporation,…
