[Japan Financial Services Agency Officially Classifies Yen Stablecoin Issuer JPYC as a 'Funds Transfer Service Provider'] According to CoinPost, the Japan Financial Services Agency (FSA) has officially classified the country's first yen stablecoin issuer, JPYC, as a 'funds transfer service provider' in its official publication, *Access FSA*. This classification places JPYC under the same legal framework as payment services like PayPay and Rakuten Pay. FSA officials explained that, from an economic functionality perspective, the process where users pay JPYC ¥10,000 to receive an equivalent amount of stablecoins, the stablecoins circulate in the market, and the final holder applies to JPYC to redeem them back into yen essentially constitutes 'funds transfer.' Funds transfer service providers are divided into three categories, with JPYC falling into the relevant category and bearing the obligation to safeguard more than 100% of users' pre-deposited assets. Even in the event of the provider's bankruptcy, users' funds can essentially be fully refunded.