In line with a recent news ‘published‘, Japan’s FSA [Financial Services Agency] has denied considering Bitcoin [BTC] exchange-traded funds [ETF’s]’
According to a news ‘published‘ by Bloomberg earlier this month, Japan’s FSA is considering the approval of a Bitcoin [BTC] ETF. Following the reports, the FSA’s representatives have refused to the Bloomberg’s claims, adding that:
“At this moment, we aren’t exploring an approval for Bitcoin ETFs supporting crypto assets.”
FSA’s employees told that they are unaware of the person cited by Bloomberg in this matter.
Earlier in Dec. last year, a rumour broke that the [FSA] is thinking to ‘reconsider‘ cryptocurrencies into a new legal class dubbed “crypto-assets”. By classifying crypto in this fashion, the govt., reportedly “expects that the traders will not buy cryptocurrencies assuming that they’re recognized by the govt.”
However back then, an FSA informatory panel filed a report requesting the modification of the term “virtual currency” to stop such confusion.
As for now, Japan’s FSA is considering the ‘regulation‘ of unregistered firms soliciting investments in cryptocurrencies, reportedly in an effort to shut-down a loophole within the existing native legislation.