Monday, November 27, 2023
  • Disclaimer
  • Privacy Policy
  • DMCA
  • Cookie Privacy Policy
  • Terms and Conditions
  • Contact us
BitScoop
No Result
View All Result
  • HOME
  • BITCOIN
  • CRYPTO UPDATES
    • GENERAL
    • ALTCOINS
    • ETHEREUM
    • CRYPTO EXCHANGES
    • CRYPTO MINING
  • BLOCKCHAIN
  • NFT
  • DEFI
  • METAVERSE
  • WEB3
  • ANALYSIS
  • REGULATIONS
  • SCAM ALERT
CRYPTO MARKETCAP
  • HOME
  • BITCOIN
  • CRYPTO UPDATES
    • GENERAL
    • ALTCOINS
    • ETHEREUM
    • CRYPTO EXCHANGES
    • CRYPTO MINING
  • BLOCKCHAIN
  • NFT
  • DEFI
  • METAVERSE
  • WEB3
  • ANALYSIS
  • REGULATIONS
  • SCAM ALERT
CRYPTO MARKETCAP
BitScoop
No Result
View All Result
Home Regulations

Japanese lawmakers cross stablecoin invoice to safeguard crypto buyers

by BitScoop
June 8, 2022
in Regulations
Reading Time: 2 mins read
A A
0
Japanese lawmakers cross stablecoin invoice to safeguard crypto buyers
Share on FacebookShare on Twitter

[ad_1]

Japanese lawmakers on Firday handed a invoice for stablecoins to guard crypto buyers. The invoice comes a month after the TerraUSD (UST) stablecoin crash that prompted buyers to lose billions of {dollars} because the stablecoin misplaced its worth.

BREAKING: 🇯🇵 Japan has handed a invoice that acknowledges the authorized standing of #stablecoins with investor safety calls for.

— Watcher.Guru (@WatcherGuru) June 3, 2022

TerraUSD crash made a majority of nations consider another method of legalizing cryptos. Japan being one of many largest international locations by way of the dimensions of its economic system, has been on the forefront of drumming up crypto rules and would be the first to craft rules for stablecoins if the invoice is signed into regulation.

A stablecoin is a digital asset whose worth is linked to the precise asset like gold or the US greenback to keep up value stability. Presently, all stablecoins mixed have a market worth of about $160 billion.

What the brand new Japanese stablecoin Invoice entails

Based on the invoice, stablecoins will now be acknowledged as digital cash tied to the Yen or some other authorized tender to make sure that buyers can convert them at their present costs.

As well as, the invoice famous that stablecoins will solely be issued by trusted companies, registered cash switch platforms, and licensed banks. Nevertheless, present property which are backed by stablecoins like Tether and its counterparts stablecoins aren’t coated by the legislative act.

It’s necessary to notice that the invoice was created by Japan’s Monetary Company (FSA) and was anticipated to be handed by the Home in late 2021. In mid-March, 2022, the parliament accepted the invoice and at this time it has been handed formally.

Moreover, FTX Buying and selling Ltd, a crypto trade platform, additionally introduced at this time the launch of FTX Japan which can present providers to Japanese shoppers.



[ad_2]

Source link

Related articles

Tether refutes “stale allegations” from Wall Street Journal

Tether refutes “stale allegations” from Wall Street Journal

March 6, 2023
Crypto needs regulatory clarity: Blockchain Association CEO

Crypto needs regulatory clarity: Blockchain Association CEO

February 22, 2023
Tags: altcoinsBillbitcoin pricebitcoin updatesbitscoopCryptocrypto newscrypto updatesinvestorsJapaneselatest bitcoin newslawmakerspasssafeguardStablecoin
Share76Tweet47
Previous Post

Hong Kong Startup BEAM+ LAB’s Exhibition to Rejoice Launch of CRYPTYQUES NFT

Next Post

Binance Labs Invests in DEX PancakeSwap; CAKE Jumps Practically 10%

Related Posts

Tether refutes “stale allegations” from Wall Street Journal

Tether refutes “stale allegations” from Wall Street Journal

by BitScoop
March 6, 2023
0

Tether calls Wall Street Journal’s claims “stale allegations from long ago.” The USDT issuer noted in a recent blog post...

Crypto needs regulatory clarity: Blockchain Association CEO

Crypto needs regulatory clarity: Blockchain Association CEO

by BitScoop
February 22, 2023
0

Kristin Smith, CEO of crypto industry group Blockchain Association is optimistic of crypto regulation this year. She notes that crypto...

US SEC fines former NBA Star Paul Pierce $1.4M for crypto

US SEC fines former NBA Star Paul Pierce $1.4M for crypto

by BitScoop
February 18, 2023
0

The US SEC crypto crackdown does not seem to be fizzling out any time soon. Former NBA star Paul Pierce...

Sen. Warren to reintroduce AML bill extending to DeFi and DAOs

Sen. Warren to reintroduce AML bill extending to DeFi and DAOs

by BitScoop
February 15, 2023
0

Senator Elizabeth Warren first introduced the AML Act of 2022 on December 15, 2022. The first bill was read twice...

SEC’s ruling on BUSD “makes no sense”

SEC’s ruling on BUSD “makes no sense”

by BitScoop
February 14, 2023
0

Stefan Rust, CEO of Truflation, says the SEC’s ruling about BUSD being a security has no sense legally. The former...

Load More
Next Post
Binance Labs Invests in DEX PancakeSwap; CAKE Jumps Practically 10%

Binance Labs Invests in DEX PancakeSwap; CAKE Jumps Practically 10%

Automated Crypto Buying and selling Information – Make Cash Whereas You Sleep

Automated Crypto Buying and selling Information - Make Cash Whereas You Sleep

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

  • Trending
  • Comments
  • Latest
Hut 8’s BTC Production Dips 17% in February, Plans Sale to Fund Operations

Hut 8’s BTC Production Dips 17% in February, Plans Sale to Fund Operations

March 7, 2023
Guide to Using Multisig Wallets to Secure Your Crypto [2023]

Guide to Using Multisig Wallets to Secure Your Crypto [2023]

March 7, 2023
Crypto Projects Are Taking Advantage of Shibarium Hype, Warns Lead Shiba Inu Developer

Crypto Projects Are Taking Advantage of Shibarium Hype, Warns Lead Shiba Inu Developer

March 7, 2023
Argo Blockchain Continues To Increase Bitcoin Mining, Outpacing Difficulty Growth

Argo Blockchain Continues To Increase Bitcoin Mining, Outpacing Difficulty Growth

March 7, 2023
SRBMiner-MULTI AMD GPU Miner Now With Support for Nvidia GPUs

SRBMiner-MULTI AMD GPU Miner Now With Support for Nvidia GPUs

January 8, 2023
Sepolia Testnet Faucet – What is a Sepolia Faucet?

Sepolia Testnet Faucet – What is a Sepolia Faucet?

January 9, 2023
Crypto Projects Are Taking Advantage of Shibarium Hype, Warns Lead Shiba Inu Developer

Crypto Projects Are Taking Advantage of Shibarium Hype, Warns Lead Shiba Inu Developer

March 7, 2023
Hut 8’s BTC Production Dips 17% in February, Plans Sale to Fund Operations

Hut 8’s BTC Production Dips 17% in February, Plans Sale to Fund Operations

March 7, 2023
Guide to Using Multisig Wallets to Secure Your Crypto [2023]

Guide to Using Multisig Wallets to Secure Your Crypto [2023]

March 7, 2023
Argo Blockchain Continues To Increase Bitcoin Mining, Outpacing Difficulty Growth

Argo Blockchain Continues To Increase Bitcoin Mining, Outpacing Difficulty Growth

March 7, 2023
A Dozen Reasons Why the SEC Should Have Approved Grayscale’s Spot Bitcoin ETF

A Dozen Reasons Why the SEC Should Have Approved Grayscale’s Spot Bitcoin ETF

March 7, 2023
Judges Consider Grayscale’s Arguments In Bitcoin ETF Hearing Against SEC

Judges Consider Grayscale’s Arguments In Bitcoin ETF Hearing Against SEC

March 7, 2023
Facebook Twitter LinkedIn Tumblr
BitScoop

Find the latest Bitcoin, Ethereum, blockchain, crypto, Business, Fintech News, interviews, and price analysis at Bitscoop

CATEGORIES

  • Altcoin
  • Analysis
  • Bitcoin
  • Blockchain
  • Crypto Exchanges
  • Crypto Updates
  • DeFi
  • Ethereum
  • Metaverse
  • Mining
  • NFT
  • Regulations
  • Scam Alert
  • Web3

SITE MAP

  • Disclaimer
  • Privacy Policy
  • DMCA
  • Cookie Privacy Policy
  • Terms and Conditions
  • Contact us

Copyright © 2022 - Bitscoop.
Bitscoop is not responsible for the content of external sites.

No Result
View All Result
  • HOME
  • BITCOIN
  • CRYPTO UPDATES
    • GENERAL
    • ALTCOINS
    • ETHEREUM
    • CRYPTO EXCHANGES
    • CRYPTO MINING
  • BLOCKCHAIN
  • NFT
  • DEFI
  • METAVERSE
  • WEB3
  • ANALYSIS
  • REGULATIONS
  • SCAM ALERT

Copyright © 2022 - Bitscoop.
Bitscoop is not responsible for the content of external sites.