Japan FSA lifts stablecoin transaction cap for some operators

Japan’s Financial Services Agency has lifted the 1 million yen ($6,700) cap on stablecoin transactions for some operators, a move seen as opening the market to broader institutional participation, according to Crypto Briefing. The limit had applied to second-category funds transfer service providers. Crypto Briefing said the cap, introduced under the revised Payment Services Act in 2023, had drawn criticism for limiting stablecoin use largely to small peer-to-peer payments. Alongside the change, Japanese authorities plan to create a dedicated department for cryptocurrencies and stablecoins and establish a pathway for overseas-issued stablecoins to enter Japan.