Dated 7 January 2019 Bloomberg According to Japan's primary financial observer Financial Services Agency (FSA), Bitcoin It may approve crypto exchange traded funds even though it terminates its plans to allow forward transactions.
Crypto-money in Japan EFTIncrease in Interest
A stock market Bitcoin Although the plan to allow the futures market to be listed is abandoned, Japan may be moving towards a future in which its crypto ETFs are the norm.
According to Bloomberg, FSA in the near future crypto-currency approve foreign exchange purchase funds. Quoting an unnamed source, Bloomberg says the FSA is ETF's increasing interest in digital currencies, he said.
As the country abandoned its planning to continue its Bitcoin futures, it was a surprise that interest in the funds traded in the stock market following the new asset class increased. In December 2018, the FSA decided to continue the revisions of Japan's securities law; this is also crypto options and futures will be listed on large financial exchanges.
The agency will also bring a limit to the leverage that can be offered by crypto brokers, and ICONto be included in the securities law. As the FSA is looking for ways to regain control over the market, self-regulating organizations in the country have been given more control.
ETFs Revive the Crypto Market in Japan
Bloomberg's secret source said the additional measures introduced by the FSA would serve as a draft for the Liberal Democrat Party in a proposal to be submitted by the end of March 2019. The party's plan for the bill, as early as 2020, has become a law, he said
Kripto ETF, for the sector KrHoly Bowl”Continues to be in position. Because ETFs are seen as a large and liquid fund listed on the stock exchange. The Japanese believe it can attract more attention. The growing interest combined with a strong regulation history can legitimize the entire industry with a single touch.
However, the funds traded in the stock market were very difficult to implement in Japan. This is true even for more traditional asset classes, such as stocks and bonds.
Japanese investors, the country's ETF market $ 335 billion Although it is around, it prefers investment funds. Compared to the US $ 3.7 trillion pending ETF in the US, it is not wrong to say that the Japanese ETFs still have a longer path.
Source: Btcmanag is