Will Japan's Financial Services Agency approve a cryptocurrency ETF?! JVCA Chairman Yasunao Okuyama: "If realized, it would reaffirm the presence of cryptocurrencies."
Japan's Financial Services Agency Considers Cryptocurrency ETFs
The American prominent newspaper Bloomberg reported on January 7 that Japan's Financial Services Agency is considering cryptocurrency ETFs.
This was reported based on information from anonymous sources, and according to Bloomberg,
the FSA is conducting investigations related to approvals and permissions, such as the "industry interest in cryptocurrency ETFs."
If a cryptocurrency ETF were to be approved in Japan, which leads the world in cryptocurrency regulation,
it would raise the reliability and presence of cryptocurrencies to a certain level and could serve as a foothold for social implementation of cryptocurrencies.
FSA's Stance on Cryptocurrency Regulation
The FSA has so far placed emphasis on "protecting investors first, while not compromising the liquidity of cryptocurrencies," and has regulated cryptocurrency-related activities accordingly.
Recently, there have been a series of social problems where individual investors are scammed by crypto-related financial products such as ICOs.
