Regulatory restrictions on the algorithm Stablecoin may be added in Japan

According to BlockBeats, Tomoko Amaya, Japan's Deputy Minister for International Affairs, recently advised lawmakers during a speech on crypto assets at a roundtable hosted by the Official Monetary and Financial Institutions Forum (OMFIF) on December 7, Stablecoin must not use algorithms to stabilize its value, and it needs to strengthen its guarantee of redemption. It is reported that this idea was first proposed by the Japanese Monetary Authority in October, and the Stablecoin draft regulation passed by the parliament in June did not include the algorithm Stablecoin in the scope of the draft regulation.