No Crypto ETF in The US? Okay, Let’s Go To Japan

No Crypto ETF in The US? Okay, Let’s Go To Japan

Japan watchdog Financial Services Agency, the FSA, is reportedly looking for institutional interest in ETFs that works tracking cryptocurrencies; yes, the same ETFs the United States if having a lot of problems to approve.

In a report published by Bloomberg, Japan would be exploring crypto ETFs according to a person familiar to the matter cited by Bloomberg. “Japan’s financial watchdog has abandoned plans to allow listed derivatives based on cryptocurrencies but may yet approve exchange-traded funds that track the asset class.”

The FSA is currently weighing financial industry interest in ETFs tracking crypto assets such as Bitcoin and Ethereums. All of it following last month decision to bar crypto futures and options from major financial exchanges.

The research will help to write a new financial bill that the ruling Liberal Democratic Party will submit before April. “Besides aiming to amend securities legislation through the Financial Instruments and Exchange Act, some of the FSA’s recommendations will likely result in changes to the Payment Services Act, the person said,” Bloomberg said.

As a matter of framework, the United States is still deciding to approve or refuse crypto ETFs in American markets. US regulators have postponed decision many times, and it is expected to announce something new in February.

The industry widely expects crypto ETFs as they believe it would provide legitimacy to digital assets in the investing world and also it will bring more customers to the crypto industry.

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