Japan to have world's first clear regulatory framework for stablecoins
23 June 2022
Japan will soon have the world's first clear regulatory framework for stablecoins. This new framework has been developed following international discussions triggered by the announcement of the Diem (Libra) concept back in 2019. In May 2022, TerraUSD, an algorithmic stablecoin which was supposed to be pegged to the U.S. dollar, lost its dollar peg, collapsed and sent shockwaves through the crypto market. Regulators all over the world claim a focused regulatory framework is now urgently needed.