by Micah Zimmerman, Bitcoin Magazine:
Japan is reportedly considering allowing domestic banks to trade and hold assets like Bitcoin.
Japan’s Financial Services Agency (FSA) is reportedly considering reforms that would allow domestic banks to acquire and hold digital assets, including Bitcoin, for investment purposes.
This would be a drastic move away from the conservative stance established in 2020, when local banks were barred from holding crypto due to concerns over volatility and financial stability.
Under the proposed framework, banks could trade digital assets similarly to stocks and government bonds, with specific safeguards designed to ensure their financial soundness. The FSA plans to develop risk management protocols to mitigate the potential impact of sudden price swings on banks’ balance sheets.
Nation-state Bitcoin adoption is at the “tail end” of the gradual stage and entering “the beginning phases of suddenly,” Jan3 founder Samson Mow said.
A 12-foot golden statue of President Donald Trump holding Bitcoin was installed outside the U.S. Capitol, coinciding with the Federal Reserve’s upcoming interest rate decision on Wednesday.
