Financial watchdog in Japan refuses interest in BTC ETF

Financial watchdog in Japan refuses interest in BTC ETF

Bitcoin News
January 11, 2019 by XNews Editor 1
34
The Financial Services Agency (FSA) in Japan rebuts that it is considering permitting Bitcoin (BTC) exchange traded funds (ETFs), according to Cointelegraph
Financial watchdog in Japan refuses interest in BTC ETF

The Financial Services Agency (FSA) in Japan rebuts that it is considering permitting Bitcoin (BTC) exchange- traded funds (ETFs), according to the reports by Cointelegraph on January 9.

According to the data provided by Cointelegraph on Monday, recently, Bloomberg has issued an article stating that FSA in Japan is considering the sanction of a BTC ETF, quoting an unknown source. After the reports came, Cointelegraph Japan has communicated with the watchdog, and the agents of FSA have refused the claims stated by Bloomberg.

The representatives stated that at the present moment, we are not considering any authorization of the ETFs based on the crypto holdings.”

The staff of FSA also stated to Cointelegraph Japan that they are not aware of the individual acquainted with the subject quoted by Bloomberg.

In the month of December 2018, there was breaking news that stated that FSA is thinking of placing cryptocurrencies into a new authorized group known as crypto-assets. By categorizing crypto in this fashion the administration apparently hopes that vendors will not buy cryptocurrencies from now onwards by considering that they are authorized tender that comes under the regulatory framework of the government.”

In the past, an advisory board of FSA has filed a report asking for the modification of the term “virtual currency” to avoid such ambiguity.

According to Cointelegraph reports on Tuesday, the financial services agency in Japan is taking into account the administration of unregistered firms requesting investments in crypto, allegedly in order to close a loophole in the current local regulation.

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