Japan to reportedly take action to scrutinize crypto globally

[newshunter]

Japan to reportedly take action to scrutinize crypto globally

The Japanese Ministry of Finance is hiring more staff to develop stricter global rules for digital currencies, particularly fiat-pegged stablecoins.

Source: Japan to reportedly take action to scrutinize crypto globally

Would appreciate your opinion about this

[TomPluz]

What is good with this development is that there is no one talking of an impending ban, which is what is happening in China and some other countries. In Japan, you must make sure that you are following rules established by the country, otherwise there can be a big problem...this is going to be true with cryptocurrency as well. Japan is one of the solid nation for cryptocurrency and if there can be clearer regulatory environment then the more that there will be people who will also get into crypto.

[Senin]

It looks like governments are finally getting to regulate private and commercial stablecoins. This was to be expected and it is even surprising that such regulation is already very late in time. At a time when the digitized currencies of states are being massively prepared for release, these stablecoins will seriously compete with them. At the same time, in fact, the almost complete anarchy with their release and circulation, when used as collateral for fiat, can create a threat to global financial stability.
States may even prohibit such stablecoins from using their national currency as collateral. They have every right to do so.