Japan's FSA to Set Up Digital Assets, Stablecoins Division on Aug. 7

Japan's Financial Services Agency will create a dedicated division to oversee digital assets and stablecoins, which are digital assets pegged to fiat currencies, Odaily reported on August 5.

The agency plans to launch the Digital Assets and Stablecoins Division on August 7 under its Asset Management and Insurance Supervision Bureau as part of an organizational restructuring.

The new division will handle policy and supervisory work related to digital assets and stablecoins. It will include a Digital Asset Monitoring Office responsible for overseeing digital asset exchanges, along with an Innovation Promotion Office and a Digital Payment Planning Office.

The FSA said the reorganization is intended to address the digitalization of finance and new regulatory demands arising from that shift.