Japan's Financial Services Agency discusses easing the ¥1 million deposit insurance cap; bank
Original headline일본 금융청, 100만엔 상한 완화 논의…은행권은 신중론
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Japan's Financial Services Agency (FSA) held the second meeting of its Digital and Decentralized Finance Study Group on the 2nd, discussing a potential relaxation of the ¥1 million per-transaction cap applied to stablecoin transfers, hearing from JPYC — issuer of the yen stablecoin JPYC — SBI VC Trade, and the Japanese Bankers Association. Issuers and distributors argued the current cap constrains large-scale payouts and corporate payments, while the banking sector raised concerns over user fund protection and money laundering risk. According to CoinPost, the session also covered stablecoin reserve assets, lending regulations for stablecoins, and whether banks should be allowed to issue stablecoins alongside deposits. The outcome could shape Japan's stablecoin framework as yen-pegged tokens move toward broader commercial use. Watch for whether the FSA moves to amend the transfer cap and how it balances issuer growth against bank-led safeguards in future study group sessions.
Muhabbit's AI wrote this summary in its own words from TokenPost's report and translated it from Korean. It can get details wrong, so check the source.
Named in this story
Japan Financial Services Agency, JPYC, SBI VC Trade, Japan Bankers Association