CandleFocus Japan maintains conservative approach to crypto ETFs
2024-10-23
Author: Content Editor
Japan is hesitant to approve Bitcoin or any other crypto exchange-traded funds (ETFs) due to concerns over past scandals and a cautious regulatory environment. The Financial Services Agency (FSA) is known to be conservative, and convincing Japan's financial authorities to allow crypto ETFs seems unlikely. However, some companies are preparing for potential approval, such as Franklin Templeton and SBI Holdings, who are creating a joint venture for crypto ETF development. Japan has a history of early crypto adoption, but regulations have become stricter in recent years. Despite this, the country's crypto market remains strong, with many merchants accepting crypto as payment. Japan is also considering tax reform to lower crypto tax rates and treat cryptocurrencies more like traditional financial assets.
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