[Japan's Financial Regulator Seeks Public Feedback on Draft Rules for Eligible Bonds in Stablecoin Reserves] According to a report by The Block, Japan's Financial Services Agency (FSA) has opened a public consultation period to gather opinions on draft rules regarding the types of eligible bonds for stablecoin collateral. The deadline for feedback is February 27, 2026. This move aims to implement the 2025 Payment Services Act by defining the 'specific trust beneficiary rights' in the reserves held by issuers. The FSA stated that the finalized standards will specify the asset composition of all regulated, yen-pegged stablecoins issued within the jurisdiction.