The Financial Services Agency (FSA) is preparing a major policy change that would allow local banks in the country to engage in the purchase, sale, and holding of cryptocurrencies, according to a local publication on Sunday.
The FSA will begin talks to reform existing guidelines that currently prohibit such activities due to concerns about market volatility.
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The aim is to integrate crypto assets into the traditional financial framework, allowing banks to manage them in a similar way to stocks and bonds, while establishing robust regulatory safeguards.
This move is part of a broader effort to create a more accessible and secure digital asset environment, which also includes the possibility of allowing banks to register as crypto exchange platforms and the enforcement of strict rules against insider trading.