With the growing interest in Bitcoin and cryptocurrencies, Japan, which follows a strict approach, is also taking important steps. At this point, Japan, which has taken action to change the country's crypto rules in recent months, is preparing to approve the issuance of JPYC, the country's first yen-denominated stablecoin. At this point, Japan's Financial Services Agency (FSA) is preparing to approve the country's first yen-pegged stablecoin this fall. As cryptocurrency movements in Japan accelerate, JPYC, the issuer of the Japanese yen stablecoin, announced that it has officially registered with the Japanese FSA and will be able to issue yen-backed stablecoins. JPYC added that it is the first institution to issue a stablecoin pegged 1:1 to the Japanese yen. “JPYC has officially registered with the Financial Services Agency as a fund transfer service provider in Japan. “We can now issue a stablecoin pegged 1:1 to the Japanese yen for the first time in Japan.” The JPYC stablecoin will be issued on multiple blockchains, including Ethereum (ETH), Avalanche (AVAX), and Polygon (POL). Users will be able to exchange and exchange Japanese yen for JPYC. *This is not investment advice. Continue Reading: Japan Prepares to Launch Country's First Cryptocurrency! Three Altcoins Selected!
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