Crypto news

Japan has passed a law on stabelcoins

Japan’s parliament passed a bill that recognizes stabilecoins as digital money.

According to the document, “stable coins” must be linked to the yen or other legal tender and guarantee owners the right to redeem them at face value.

Such interpretation means that only licensed banks, money transfer providers and trust companies will be issuers of stablcoins.

The law will come into force in the summer of 2023.

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