The top financial regulator of Japan indicated that 2023 could see some positive changes with regard to major stablecoins. These include Tether USD (USDT), USD Coin (USDC) etc. According to Japanese local media, the Financial Services Agency is set to lift its controversial ban on domestic distribution of stablecoins issued overseas in 2023. These stablecoins will be managed by local distributors who will have to ensure consumer protection and comply with AML laws.
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