Japan: How Passing a Stablecoin Bill Protects Crypto Investors
Originally posted here.
By: julietluciol7
Overview
Friday, June 3rd, was a landmark event for the Japanese. The federal parliament successfully passed a law that legalized and regulated stablecoins. This event occurs a month after Terra’s UST stablecoin collapsed and caused multi-billion dollar losses in the crypto industry.
Japan’s new bill is an example of how stablecoins can be utilized to uphold public trust, regulate the industry, and reduce financial crimes like fraud and embezzlement.
Japan Legalizes Stablecoins
Among the major economies in the world, Japan has become the first country to legalize and establish a framework around stablecoins. This may …
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