[Japan Plans to Ban Banks and Insurance Companies from Selling Virtual Currency, Securities Companies May Be Permitted to Operate] The Financial Services Agency of Japan plans to prohibit banks and insurance companies from directly selling virtual currencies but will allow securities companies to engage in related business. The agency believes that virtual currency prices are highly volatile and pose risks of cyberattacks. To protect the interests of depositors and insurance policyholders, it intends to strengthen regulations. Securities subsidiaries under banks or insurance companies may be permitted to sell virtual currencies, but they must improve risk management measures. The relevant legal amendments are expected to be submitted to the regular session of the National Diet next year.