Other jurisdictions like the European Union and even the U.K. have taken more stringent approaches to regulating stablecoins, particularly after one such cryptocurrency, terraUSD, rapidly lost parity with the U.S. dollar last year, leading to the collapse of not just the issuer but a string of other prominent players in the crypto world.

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• Source: https://www.coindesk.com/policy/2023/09/26/why-binance-and-banking-giant-mufg-want-to-issue-stablecoins-in-japan/?utm_medium=referral&utm_source=rss&utm_campaign=headlines