The Japanese government will help cryptocurrency owners

The Japanese government has passed a bill to regulate the turnover of stablecoins. They did it to protect the interests of traders and investors. The country was one of the first to give stablecoins digital currency status. From now on, their value is pegged to the yen, and coin holders have the right to exchange digital assets for fiat currency at any time.

It is important that only licensed banks, registered payment operators and trust companies in Japan will be able to deal with stablecoins. The law will not apply to stable cryptocurrencies of foreign issuers (such as Tether and its counterparts).

Japanese politicians are not the only ones who want to control stablecoins legally, the day before the British Ministry of Finance proposed additional protection measures in the crypto industry. All because of the recent collapse of LUNA, which cast a shadow over the whole of South Korea and threatened the finances of millions of investors.

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