Tag: TerraUSD

Japan Passes Stablecoin Bill To Protect Crypto Investor!

Crypto-Trading tamir - June 5, 2022

Japan became one of the first major jurisdictions to introduce a legal framework around stablecoins, the class of cryptocurrencies that came into the global spotlight by last month’s collapse of the TerraUSD (UST) token. Japan’s parliament passed a bill on Friday clarifying the legal status of stablecoins, defining them essentially as digital money, Bloomberg reports. Stablecoins can only be issued by regulated entities and must be linked to the yen or another legal tender and guarantee holders the right to redeem them at face value, according to the new law.

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