A new report by Bloomberg suggests that Japan may be one of the first countries to ratify a crypto-currency ETF, if not this year. The country's Financial Services Agency (FSA) may grant Bitcoin or another crypto money fund for stock exchange transactions in 2020.
According to a da source of knowledge on the subject verme, the Japanese Financial regulator has now abandoned plans to grant permission for listing of crypto currency derivatives and futures on stock exchanges. But an ETF is still being taken seriously. Such moves of the FSA attract the attention of the sector to the crypto money monitoring fund.
According to Bloomberg, Bitcoin ETFs will be in effect in Japan in 2020
The current parliamentary session will end in March. For this reason, new bills are expected to be submitted to parliament some time ago. If the draft laws are approved, the new laws will enter into force in early 2020. The Liberal Democratic party may propose an amendment to the Financial Instruments and Exchange Act and the Payment Services Act, which will facilitate the listing of Crypto currency ETFs on major exchanges.
The year 2020 is really a long year for those who want to see the peak levels in the crypto money market early in 2018. People who carry such a desire in their hearts are awaiting this ETF approval to see the institutional investment that will revive the historic peaks. Although it is a long year of waiting, it is not clear whether the US will approve an ETF earlier than Japan. The SEC promises to prioritize the crypto money law in 2019, and a significant number of Bitcoin ETF decisions will be taken in the first half of the year. But the commission has a bad habit. The Commission has a bad reputation for delaying and postponing its activities as long as possible.
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