Japan’s Banks May Soon Hold Bitcoin

Japan's Financial Services Agency (FSA) is reviewing regulatory reforms that could permit domestic banks to acquire and hold non-backed crypto assets like Bitcoin for investment, reversing previous restrictions based on volatility concerns. This move coincides with Japan's three largest banking groups—MUFG, SMFG, and Mizuho—jointly planning to issue yen-pegged stablecoins using technology from Progmat Inc. for corporate settlements. The FSA is also focused on risk management, with discussions at the Financial System Council centering on setting capital requirements and exposure limits for banks holding digital assets. Furthermore, the FSA is considering allowing bank groups to register as Crypto Asset Exchange Service Providers, solidifying traditional finance's role in the digital asset ecosystem.

(Source：BeInCrypto)