In April, Japan's Financial Services Agency (FSA) officially classified JPYC, the issuer of Japan's first yen stablecoin, as a 'funds transfer operator' in its publication *Access FSA*. According to FSA officials, JPYC shares the same economic function as payment services like PayPay and Rakuten Pay, categorized as 'funds transfer.' This means users pay yen to acquire JPYC, and the stablecoin is later redeemed for yen by the final holder. Under Japan's current laws, remittance transactions are primarily handled by banks and funds transfer operators. JPYC is required to safeguard user funds at over 100% under the relevant framework. (CoinPost) https://(wublock123.com)/news/japan-yen-stablecoin-regulation-jpyc-licensed-funds-transfer-operator-60223