Japanese regulator requests tax filing exemption for trust-type stablecoins in 2027 reform
Related
The FTC has approved Musk's antitrust filing for Mesh's acquisition, which involves the deployment of optical networks for AI data centers.
According to ChainCatcher, the latest filings with the U.S. Federal Trade Commission (FTC) indicate that Elon Musk has received antitrust approval to acquire optical networking startup Mesh Optical Technologies. This means the FTC has completed a expedited antitrust review and will not question the transaction on competition grounds, clearing a major regulatory hurdle for the deal. However, it has not yet been disclosed whether the deal has been signed or completed. Mesh was founded by former SpaceX engineers, and its core product is optical transceivers for AI data centers. Compared to traditional network hardware, these transceivers improve energy efficiency, reduce latency, and enhance reliability to meet the demand for millions of optical connections driven by the growth of AI computing clusters. The founding team previously participated in the development of the laser communication system for SpaceX's Starlink satellite network and plans to deploy optical communication technology in space in the future to meet the inter-satellite laser communication needs of orbital data centers and AI satellite networks. The company completed a funding round of over $50 million in February of this year, led by Thrive Capital. The acquisition of Mesh is one of SpaceX's moves to strengthen its competitiveness in large-scale computing clusters. SpaceX has now made AI computing power a core business segment. Its xAI division operates the Colossus and Colossus II training clusters, totaling approximately 1GW of computing power, making it the first company to deploy a continuous gigawatt-scale AI training cluster. Colossus II will add over 400MW of computing power and more than 220,000 GB300 chips. It has already signed computing power cooperation agreements with Anthropic, Google, and Reflection AI, directly competing with hyperscale cloud providers such as Amazon Web Services, Microsoft Azure, and Google Cloud. This year, SpaceX also reached a Terafab chip manufacturing agreement with Tesla and Intel, extending its vertical integration capabilities in chip design and manufacturing. Over the past week, SpaceX's stock price ended its upward trend, closing at $153.23 per share, a drop of over 32% from its peak of $225.64 per share.
SBI Group and Startale Group jointly launched JPYSC, Japan's first trust-based yen stablecoin.
According to official sources, SBI Group and Odaily Group will jointly launch Japan's first trust-based yen stablecoin, JPYSC, on June 24, 2026. Issued by SBI Shinsei Trust Bank, the stablecoin manages reserve assets through the trust bank, offering lower transfer costs and support for large transactions. JPYSC, as Japan's first stablecoin classified as a Type III electronic payment instrument, has the core advantage of combining the regulatory transparency of the Japanese financial system with the programmability of blockchain technology, aiming to build a yen settlement infrastructure that connects traditional finance with on-chain markets. Initially, the project is limited to use within the SBI VC Trade account, but the technical preparations for migration to a public blockchain have been completed. External circulation will be opened once regulatory and tax policies are clarified. JPYSC application scenarios cover six major areas: on-chain foreign exchange market, institutional lending, RWA settlement, retail payments, cross-border remittances, and over-the-counter trading.
The US SEC is soliciting regulatory opinions on "new types of ETFs," focusing on crypto and on-chain innovative products.
According to Odaily Odaily, the U.S. Securities and Exchange Commission (SEC) is soliciting public comments on "novel ETFs" to assess its regulatory framework and market rule design. The SEC stated in its filing that it continues to monitor market interest in various innovative products, including funds related to crypto assets, investment opportunities based on blockchain technology, and new financial derivatives such as "event contracts." This consultation is seen as a further exploration of the regulatory boundaries of ETFs by the SEC, especially given the continued growth in demand for crypto ETFs, on-chain asset exposure products, and structured derivatives. The regulator is attempting to find a new balance between innovation and risk control. (The Block)
Spanish regulators: There will be no extensions or exemptions during the MiCA license transition period.
According to a Foresight News report, Carlos San Basilio, president of Spain's market regulator CNMV, stated on Friday that the regulator will not grant any extensions or exemptions to crypto companies that fail to obtain an EU MiCA license, including large platforms like Binance. Crypto companies are required to obtain a MiCA license by the end of June or face expulsion from the EU market. San Basilio stated that the regulator is in close communication with unauthorized companies to ensure an orderly exit. Regarding Binance's situation, San Basilio acknowledged that the challenge is greater for platforms with millions of European users, stating that the regulator is monitoring how such platforms transfer customer assets and cash to other service providers while simultaneously protecting investor rights. He stated that regulators are currently more focused on how the situation will evolve after the transition period ends and how the market will adapt to the new environment, which is why they are maintaining communication with unlicensed entities. The CNMV's primary task is to ensure client protection during the transition period, requiring relevant companies to clearly explain their exit plans. He added that investors who conduct new transactions on unauthorized platforms will no longer enjoy the protections under the MiCA framework. Currently, the implementation of MiCA is the responsibility of each member state, but there are proposals suggesting expanding the regulatory powers of the European Securities and Markets Authority (ESMA) in the future.
Ripple's stablecoin RLUSD has been launched in Japan and approved by the Japanese Financial Services Agency.
PANews reported on June 25th that Ripple and SBI Holdings announced the official launch of the RLUSD stablecoin in Japan, which has received approval from the Japanese Financial Services Agency. RLUSD is available to institutional and retail users through SBI VC Trade's VCTRADE platform. Classified as a new type of electronic payment instrument under Japan's Payment Services Act, RLUSD is designed to meet the security and regulatory standards for foreign-issued stablecoins. Jack McDonald, Senior Vice President of Ripple Stablecoins, stated that this launch is an important step in expanding access to regulated USD stablecoins for Japanese financial institutions and businesses, and that RLUSD will serve as a bridge for payments, tokenization, and collateral management.
The Hong Kong Securities and Futures Commission is discussing the removal of the 10% minimum investment exemption for virtual asset management.
According to Odaily Odaily, the Hong Kong Securities and Futures Professionals Association stated that representatives from the regulatory body, including Ip Chi-hang, Executive Director of the Intermediaries Division of the Hong Kong Securities and Futures Commission, and Chan Ho-lim, Under Secretary for Financial Services and the Treasury, met to discuss several specific policy changes, including: canceling the previous 10% minimum investment exemption for virtual asset management, and the new regulations taking effect immediately without a transition period. In addition, the Hong Kong Securities and Futures Commission (SFC) stated that it has communicated with the Hong Kong Securities and Investment Institute (HKSI) to separate the examination and courses for virtual asset platform practitioners, and to reduce the examination fees to align with the current Paper 2 and Paper 3 examination fees. The Hong Kong Securities and Futures Association also requested a clear distinction between technology services and regulated activities, and suggested that the SFC establish a clearer approval timetable and phased reference framework. (Sing Tao Daily)