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Tokyo has announced a new support program aimed at promoting the adoption of yen-pegged stablecoins. The initiative will provide subsidies covering two-thirds of development costs related to usage scenarios, with a maximum of 40 million yen per project. Applications are open until June 30. The evaluation criteria will include social significance, innovation, feasibility, potential for widespread adoption, and safety and risk management. Key focus areas are anti-money laundering mechanisms, user protection, and response strategies for incidents or fraud.

JPYC-0.14%

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