Streamlined:

Businesses and general investors: Oh, this is interesting.

Crypto community members: It's about to explode!

In detail:

The stablecoin law passed in Japan was listed yesterday; let's see its impact on businesses and the crypto community.

· For businesses.

1. Cross-border transactions are fast.

Blockchain payments can be completed in a flash, much faster than bank transfers that can take days.

2. Low fees.

Cross-border transactions conducted through blockchain are much cheaper in terms of fees compared to banks.

3. Clear records.

Blockchain is transparent, making audits super convenient.

4. Doing business with the U.S. is super convenient.

USDC equals U.S. dollars, no need for currency exchange.

But

Compared to other countries, there will be exchange rate risks. Although transaction fees are significantly reduced, they may not cover everything.

Currently, acceptance among businesses is very low, and there are few places that can accept USDC. Even if Japan legalizes it, it doesn’t mean other countries will accept it legally.

Conclusion for businesses: 'Not bad,' but there’s still a long way to go.

· Part of the crypto community.

1. Status UP

Japan has granted legal status to USDC, legitimizing stablecoins and boosting confidence.

2. Transactions are more convenient.

Currently, only SBI VC Trade has legally launched USDC, and other exchanges are following suit, which may lead to a surge in trading volume.

3. New ways to play.

Cross-border arbitrage and DeFi can be done, providing ample trading opportunities. (For example, if an exchange opens a USDC/JPY trading pair, when traders discover a price difference, they can exchange USDC for other assets on a DeFi platform, then sell back to yen on the exchange.)

But

Even so, regulations are still strict; the Japanese Financial Services Agency has a lot of oversight, and reckless actions can easily attract attention.

Moreover, there are still risks; we are still following the U.S. lead, and when the U.S. adjusts its policies on stablecoins, Japan will inevitably make changes too.

Conclusion for the crypto community: Positive news! But not a lot.

Final Summary:

The U.S. influences globally, while Japan influences Asia; being the first country to legalize stablecoins is also the starting point for their takeoff.

With stablecoins gradually becoming globally compliant, do you still think cryptocurrencies are scams?

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