Overview
- An FSA review would allow banks to treat cryptocurrencies like stocks or government bonds, subject to capital and risk controls.
- A working group of the Financial System Council is set to discuss the proposal, with no final rule changes yet adopted.
- Banking groups could be permitted to register as licensed crypto-exchange operators to offer trading and custody under supervision.
- An FSA official told the Japan Times the agency remains cautious about banks selling crypto assets to clients even if investment is allowed.
- The push comes as Japan counts more than 12 million registered crypto accounts and as MUFG, SMBC, and Mizuho advance a yen‑pegged stablecoin project alongside a broader shift toward securities‑style oversight under the FIEA.