Japanese Trust Banks Could Manage Crypto From Autumn
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Japan will soon be allowing trust banks to manage crypto assets following the announcement from a leading financial regulator to release legislation that could become law late this year. Financial Services Agency (FSA) seeks to “deregulate” trust banks, in a way that would allow these financial entities to take care of the coin deposits. The agency states that crypto assets are of volatile nature and there is a high risk involved in their trading. The main aim of the agency it said is to enhance the protection of investors and do the promotion of “appropriate” market development by granting permission to trust banks permission to conduct “asset management operations” related to crypto. From autumn this year, the measure will be in effect. Source