Japan’s financial regulator Financial Services Agency announced today that it would hold a ‘planning competition’, proposal-type competitive bidding for a survey on overseas stablecoin use cases and related regulations.
In order to participate in the planning competition, participants would need to partake in the individual briefing session and submit the application for participation.
In September, the Financial Services Agency released the agenda of the ‘Study Group on the Ideal Way of Dealing with Digital and Decentralized Finance’, and mentioned stablecoins as an integral part of it.
Stablecoins would likely spread wide and have a greater impact on the financial system than general cryptocurrencies. However, it also deals with risks such as money laundering and criminal activities that cannot be dealt with by existing regulations.