# Japan Study Group Discusses 1 Million-Yen Stablecoin Transfer Cap

By Riza Dagoc

Canonical URL: https://www.tokenpost.com/news/regulation/46385
Published: 2026-11-02T12:19:59.000Z
Updated: 2026-11-02T12:19:59.000Z
Section: Regulation

> JPYC outlined a 5 billion-yen subsidy example, while SBI VC Trade sought to remove limits on some foreign stablecoins.

A study group convened by Japan's Financial Services Agency (FSA) discussed changes to stablecoin rules, including a 1 million-yen single-transfer cap that can force large payouts into thousands of transactions.

The discussion at the group's second meeting also covered oversight of stablecoin lending and whether banks may issue stablecoins. Stablecoins are crypto assets designed to maintain stable value.

JPYC, a yen stablecoin issuer, said the cap hinders large-scale payment use. Its example was a subsidy of 50,000 yen for each of 100,000 people, totaling 5 billion yen and requiring 5,000 transfers under the cap. The scenario illustrated the transaction burden on large payments.

SBI VC Trade called for removing transfer and holding limits on some foreign stablecoins, citing corporate demand for cross-border remittances and large settlements. The positions covered yen and some foreign stablecoins.

Japan's banking association warned that looser limits could increase risks tied to issuer insolvency, concentrated redemptions and money laundering, and urged careful review.