Japan FSA to Set Up Digital Assets, Stablecoins Division on Aug. 7
Summary
- Japan’s Financial Services Agency will create a dedicated division to oversee digital assets and stablecoins, according to Odaily.
- The Digital Assets and Stablecoins Division will be responsible for policy and supervisory work related to digital assets and stablecoins.
- The Digital Assets and Stablecoins Division will include a Digital Asset Monitoring Office, an Innovation Promotion Office, and a Digital Payment Planning Office.
Forecast Trend Report by Period
Japan’s Financial Services Agency will create a dedicated division to oversee digital assets and stablecoins, Odaily reported on August 5.
The regulator plans to launch the Digital Assets and Stablecoins Division on August 7 as part of an organizational overhaul. The new unit will sit under the Asset Management and Insurance Supervision Bureau.
The division will be responsible for policy and supervisory work related to digital assets and stablecoins. It will include a Digital Asset Monitoring Office, which oversees digital-asset exchanges, as well as an Innovation Promotion Office and a Digital Payment Planning Office.
The FSA said the restructuring is intended to respond to the digitalization of finance and new regulatory demands stemming from that shift.
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