Japan’s top financial regulator, the Financial Services Agency (FSA), has explained to news.Bitcoin.com its recently adopted rules regarding the creation and sale of cryptocurrency exchange-traded funds (ETFs). Meanwhile, Japan now has a crypto index, launched by major Japanese companies.
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With the rising interest in cryptocurrencies as an investment option, Japan’s top financial regulator has adopted new guidelines for cryptocurrency ETFs. Japan is often known as one of the most advanced countries when it comes to crypto regulations, having legalized cryptocurrencies as a means of payment back in April 2017.
A spokesperson for the FSA explained to news.Bitcoin.com this week that “In order for an instrument to be treated as an investment fund in Japan, it is necessary that it corresponds to ‘investment trusts’ as per the Act on Investment Trusts and Investment Corporations, at minimum.” Responding to a question about whether…