Japan's FSA considers allowing banks to hold crypto assets

Japan's Financial Services Agency (FSA) is reviewing a plan to allow banks to hold cryptocurrency for investment purposes, Cointelegraph reported. The agency is also considering a measure that would permit banks to directly offer trading and custody services after registering as cryptocurrency exchange operators. The FSA plans to discuss the proposals at a meeting of the Financial Services Council, an advisory body to the prime minister. Currently, Japanese regulations effectively prohibit banks from holding crypto assets due to risks associated with price volatility.