Japan FSA creates dedicated crypto, stablecoin division

Japan’s Financial Services Agency said today it has created a dedicated Crypto Assets and Stablecoins Division to oversee virtual assets and stablecoins. The organizational restructuring will take effect on Aug. 7. Crypto-related work had previously been handled by two units under the Risk Analysis Office of the Comprehensive Policy Bureau, but the new dedicated division will be placed under the Asset Management and Insurance Supervision Bureau, effectively raising its organizational status by one level.