{"id":81326,"date":"2023-07-06T11:20:52","date_gmt":"2023-07-06T08:20:52","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=81326"},"modified":"2025-09-11T22:11:15","modified_gmt":"2025-09-11T19:11:15","slug":"circle-to-consider-issuing-a-stablecoin-in-japan","status":"publish","type":"post","link":"https:\/\/u1f987.com\/en\/circle-to-consider-issuing-a-stablecoin-in-japan\/","title":{"rendered":"Circle to consider issuing a stablecoin in Japan"},"content":{"rendered":"<p>Circle, the issuer of <a href=\"https:\/\/u1f987.com\/en\/news\/what-is-the-usdc-stablecoin\">USDC<\/a>, plans to issue a &#8216;stablecoin&#8217; in Japan. This was stated by Circle co-founder and CEO Jeremy Allaire in an interview with <a href=\\\"https:\/\/www.coindesk.com\/business\/2023\/07\/06\/circle-considers-issuing-stablecoin-in-japan-under-new-rules\/\\\">CoinDesk<\/a>.<\/p>\n<p>\\n\\n<\/p>\n<p>He expressed interest in the jurisdiction in light of the <a href=\"https:\/\/u1f987.com\/en\/news\/japan-eases-tax-burden-on-token-issuers\">new rules<\/a> regulating stablecoins. In his view, if this class of assets begins to be used in cross-border trade, the country will become an important market for the cryptocurrency industry.<\/p>\n<p>\\n\\n<\/p>\n<p>Under the <a href=\"https:\/\/u1f987.com\/en\/news\/japan-passes-law-recognising-stablecoins-as-digital-money\">bill adopted in June 2022<\/a>, stablecoins in Japan must be pegged to the yen or another legal tender and guarantee holders the right to redeem them at face value.<\/p>\n<p>\\n\\n<\/p>\n<p>The head of Circle did not specify details of a potential stablecoin launch, but noted that the company is interested in partnering with the world\u2019s third-largest economy.<\/p>\n<p>\\n\\n<\/p>\n<p>In March, three Japanese banks \u2014 Tokyo Kiraboshi Financial Group, Minna no Bank and The Shikoku Bank \u2014 <a href=\"https:\/\/u1f987.com\/en\/news\/three-japanese-banks-to-test-stablecoins-on-the-japan-open-chain\">announced<\/a> the start of testing &#8216;stablecoins&#8217; on the Japan Open Chain blockchain.<\/p>\n<p>\\n\\n<\/p>\n<p>After the <a href=\"https:\/\/u1f987.com\/en\/news\/terras-death-spiral-how-and-why-luna-and-ust-collapsed\">Terra collapse<\/a> in 2022, authorities <a href=\"https:\/\/u1f987.com\/en\/news\/japanese-financial-regulator-recommends-restricting-algorithmic-stablecoins\">enacted a series of restrictive measures<\/a> on stablecoins aimed at protecting investors. However, the government plans to allow listing of assets issued outside the country on local exchanges.<\/p>\n<p>\\n\\n<\/p>\n<p>Earlier this January, Japan&#8217;s Financial Services Agency <a href=\"https:\/\/u1f987.com\/en\/news\/japan-urges-crypto-industry-to-be-regulated-on-a-par-with-banks\">urged<\/a> global regulators to treat the cryptocurrency industry as strictly as banks.<\/p>\n<p>\\n\\n<\/p>\n<p>From June 1, the so-called Travel Rule from <span data-descr=\\\"Financial Action Task Force\\\" class=\\\"old_tooltip\\\">FATF<\/span> began to apply in the country, requiring monitoring of crypto transactions to combat money laundering.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Circle, the issuer of USDC, plans to issue a &#8216;stablecoin&#8217; in Japan, according to Circle co-founder and CEO Jeremy Allaire.<\/p>\n","protected":false},"author":1,"featured_media":81327,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[1220,135,807],"class_list":["post-81326","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-circle","tag-japan","tag-stablecoins"],"aioseo_notices":[],"amp_enabled":true,"views":"30","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/81326","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/comments?post=81326"}],"version-history":[{"count":1,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/81326\/revisions"}],"predecessor-version":[{"id":81328,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/81326\/revisions\/81328"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media\/81327"}],"wp:attachment":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media?parent=81326"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/categories?post=81326"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/tags?post=81326"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}