Japan's Financial Services Agency: Plans to relax stablecoin regulations to support large-scale payments

According to the Nikkei, Japan's Financial Services Agency plans to relax regulatory restrictions on trust banks issuing stablecoins, opening up space for individuals to conduct stablecoin transactions exceeding 1 million yen, and intends to include relevant content in the upcoming tax reform proposals.

If implemented, stablecoins could further be used in large consumption scenarios such as automobiles and housing, indicating that the application of stablecoins in Japan is expanding from small payments to higher amount settlements.