Japan FSA Classifies Foreign Trust-Based Stablecoins as Electronic Payment Means Starting June 1

According to Japan's Financial Services Agency, on May 19, the FSA published revised regulations that officially recognize trust-based stablecoins issued by foreign jurisdictions with equivalent regulatory frameworks as electronic payment means under Japan's Payment Services Act. The new rules will take effect on June 1, 2026. The regulations also clarify that such foreign trust-based instruments will not be classified as securities under the Financial Instruments and Exchange Act, providing legal clarity for compliant circulation of these stablecoins in Japan.
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