Japan to lift the ban on foreign stablecoins like USDT in 2023: Report None of the 31 crypto exchanges registered with Japan&#039;s Financial Services Agency are currently offering trading in stablecoins like USDT or USDC. Japanese regulators are reconsidering some major cryptocurrency restrictions related to the use of stablecoins like Tether USDT. The Financial Services Agency (FSA) of Japan will lift the ban on the domestic distribution of foreign-issued stablecoins in 2023, local news agency Nikkei reported on Dec. 26. The new stablecoin regulations in Japan will allow local exchanges to handle stablecoin trading under the condition of asset preservation by deposits and an upper limit of remittance. “If payment using stablecoins spreads, international remittances may become faster and cheaper,” the report notes. Allowing stablecoin distribution in Japan will also require more regulations related to Anti-Money Laundering controls, the FSA said. The authority on Monday started collecting feedback on proposals for lifting the stablecoin ban in Japan. As previously reported, Japan’s parliament passed a bill to ban stablecoin issuance by non-banking institutions in June 2022. The latest measure will significantly impact cryptocurrency trading services offered in Japan as currently, no local exchanges provide trading in stablecoins like USDT or USDC. According to official data, none of the 31 Japanese exchanges registered with the FSA — including firms like BitFlyer or Coincheck — were handling trading in stablecoins as of Nov. 30, 2022. Full Article: <a rel="noreferrer nofollow noopener" href="https://cointelegraph.com/news/japan-to-lift-the-ban-on-foreign-stablecoins-like-usdt-in-2023-report" target="_blank">https://cointelegraph.com/news/japan-to-lift-the-ban-on-foreign-stablecoins-like-usdt-in-2023-report</a>