Japan's Financial Services Agency Officially Designates Specific Foreign-Issued Stablecoins as Electronic Payment Methods, Effective June 1

Odaily Planet Daily News: On May 19, Japan's Financial Services Agency (FSA) published the revised "Cabinet Office Ordinance on Electronic Payment Means and Related Transactions," clarifying that trust beneficiary rights established under foreign laws deemed equivalent to Japan's system are included within the scope of electronic payment means under Japan's "Fund Settlement Act." This provides a legal basis for specific foreign-issued trust-type stablecoins to be compliantly circulated in Japan. The new regulations will take effect on June 1, 2026, and also clarify that such foreign trust beneficiary rights are not considered securities under the "Financial Instruments and Exchange Act."