Japan's Financial Services Agency (FSA) is planning regulatory changes that would allow securities subsidiaries within banking groups to offer cryptocurrency trading services, Reuters reported on Wednesday.
This move aims to broaden market access and foster competition by allowing these companies to compete directly with existing crypto exchange platforms, which are often subsidiaries of securities groups such as SBI Holdings and Rakuten.
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The FSA will also require bank-affiliated companies to provide clear explanations of the risks to retail investors due to the volatility of this asset class.