Japan crypto regulation is entering a new phase right now, as the Financial Services Agency is actually considering letting banks buy, hold, and even trade cryptocurrencies like Bitcoin. This potential Japan crypto regulation reform could enable Japanese banks crypto operations to expand in ways that weren’t possible before, with FSA crypto policy discussions expected to begin soon. The move signals growing Bitcoin adoption in Japan and could grant crypto trading approval to traditional financial institutions.
The Financial Services Agency is reportedly preparing to discuss some regulatory revisions that would allow banks to purchase and hold digital assets for investment purposes, according to a report from Livedoor. The Financial System Council, an advisory body to the Prime Minister, expects to kick off these discussions as part of ongoing Japan crypto regulation developments.
Right now, current supervisory guidelines from 2020 effectively prohibit banks from holding crypto for investment due to concerns about volatility risks and also potential losses. This FSA crypto policy shift would mark a significant change in how Japanese banks crypto services are actually structured.
Beyond just holding assets, the FSA crypto policy review also considers allowing banks to register as licensed cryptocurrency exchange operators. This would enable Japanese banks to operate crypto platforms under new Japan crypto regulation standards, offering trading along with custody services directly to customers.
Japan’s three megabanks—Mitsubishi UFJ Financial Group, Sumitomo Mitsui Banking Corp., and also Mizuho Bank—have already joined forces to issue stablecoins pegged to the Japanese yen and U.S. dollar.
The domestic crypto market is showing robust maturity. According to Yahoo Finance, Data indicates that the number of crypto accounts opened in Japan surpassed 12 million by the end of February this year, representing a 3.5-fold increase over the past five years.
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