Japan is on the verge of a financial revolution as its top regulator, the Financial Services Agency, prepares to allow the nation’s banks to dive into the cryptocurrency market.
A report from the Yomiuri Shimbun reveals plans to dismantle the existing prohibition, paving the way for banks to directly trade and hold digital assets. This isn’t just a minor policy tweak; it’s a strategic move to position trusted banking institutions at the center of the crypto economy, complete with new rules to mitigate risk and a crackdown on insider trading.
The potential for banks to also become crypto exchanges signals a fundamental shift in how Japan approaches digital finance.
