Japan is exploring the possibility of allowing banks to buy and hold cryptocurrencies like Bitcoin. The country’s Financial Services Agency is considering new regulations to manage the risks associated with bank-held cryptocurrencies. This move could lead to bank groups registering as cryptocurrency exchanges, expanding access for retail investors. Additionally, Japan’s largest banks are collaborating on a yen-pegged stablecoin project to modernize corporate settlements. The country is also considering a digital yen through the Bank of Japan’s pilot program to modernize its economy. Japan’s early embrace of cryptocurrency regulation is shaping the industry’s growth.
Leave a Reply