#USDC✅ Japan has officially allowed the use of USDC in the country
The stablecoin USDC has received the status of 'the first and only' coin of this category approved by the Japanese government for use within the country. This was reported by the CEO of Circle, Jeremy Allaire.
The subsidiary of the cryptocurrency exchange platform SBI Holdings — SBI VC Trade — has received registration as an electronic payment service provider.
According to the country's legislation, it has the right to issue the stablecoin from Circle in a new payment system. Thanks to this decision by the Financial Services Agency (FSA), SBI VC Trade became the first in Japan to list and distribute USDC.
The Japanese government also plans to approve a tax rate for cryptocurrencies by the end of June 2025. Currently, the requirements for tax regulation remain 'significantly stricter' than in other countries.
