The Japan Financial Services Agency lists JPYC as a 'fund mobility operator'

According to CoinPost, the Japanese Financial Services Agency has explicitly classified the Japanese stablecoin issuer JPYC as a "fund mobility operator" in the "Access FSA" and applies the same legal framework as PayPay, Rakuten Pay, and others. The Financial Services Agency stated that the process of users paying 10000 yen to obtain stablecoins and circulating them, and ultimately exchanging them back into yen, constitutes "fund movement". JPYC needs to preserve more than 100% of users' pre deposited assets, and even if it goes bankrupt, it can basically guarantee the return of users' funds.