JPYC sends return-remittance guidance for deposit-rule violations on JPYC EX

  • JPYC sent users guidance on return remittances for noncompliant JPYC EX transactions.
  • Sept. 17 marked the start of the transactions covered by the guidance.
  • JPYC is reviewing pending transactions and inquiries individually without setting a completion date.

JPYC, a yen stablecoin issuer, has been emailing users guidance on return remittances for transactions on its JPYC EX platform that violated deposit rules since Sept. 17. The cases include deposits made without prior reservations, deposits with incorrect amounts and requests canceled after funds were deposited. JPYC said it is reviewing transactions still marked as under review, along with other inquiries, on a case-by-case basis and has not announced when the process will be completed.

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