Japan is ramping up its digital currency and stablecoin regulation efforts as it seeks to catch up with its peers. The country’s financial services regulator has reportedly established a new unit that will oversee the industry, even as the Finance Ministry increases its headcount to better police the rapidly growing industry.
Japan was a pioneer in digital currency regulations and was one of the first countries globally to clearly define digital currencies’ role in its financial system. However, regulators in the country feel they have fallen behind their peers and are now seeking to catch up.
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