Japan’s financial regulator, the Financial Services Agency (FSA), recently announced that it does not consider stablecoins to be cryptocurrencies. This, according to the nation’s current regulatory framework. The FSA has found that all the different stablecoins in circulation have varying characteristics, and because of this, there is no uniform criteria that can be used to categorize them. This also means there’s no standard, or common rule that can be applied when determining how they should be legally registered.
