Japan's Financial Services Agency approves new framework for regulating crypto assets and stablecoins

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ODAILY
02-19
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Odaily reports that the Japanese Financial Services Agency (FSA) officially approved the report of the "Working Group on Fund Settlement System, etc." at the plenary session of the Financial System Council today. The report aims to strengthen the regulatory framework for cryptocurrencies and stablecoins. The main contents include enhancing user protection in the event of exchange bankruptcy, establishing cryptocurrency intermediary business, and adjusting the reserve assets of stablecoins. The regulatory framework has been submitted to Financial Services Minister Katsunobu Kato, and the legalization process will be promoted in the future. (CoinDesk Japan)

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