Overview

• Japanese media reports say the Financial Services Agency is preparing a proposal to allow banks to acquire and trade cryptocurrencies for investment purposes.
• The reform would reverse 2020 supervisory guidance that effectively barred banks from holding crypto due to price‑volatility risks.
• Banking groups could be permitted to register as licensed cryptocurrency exchange operators, enabling them to offer trading and custody directly to customers.
• The framework under review would include capital requirements, stress testing and exposure limits designed to protect financial stability.
• Officials are also evaluating securities‑style oversight under the Financial Instruments and Exchange Act as crypto usage grows past 12 million registered accounts and major banks pursue a yen‑pegged stablecoin project.