Japan Edges Closer to Bitcoin ETFs Amid Regulatory Overhaul
Japan is making significant strides in embracing cryptocurrency and exchange-traded funds (ETFs), according to recent amendments approved by lawmakers. The Financial Services Agency (FSA) will revise investment-fund rules, allowing for digital assets to be directly held by investment trusts and ETFs. This regulatory shift brings crypto oversight under the Financial Instruments and Exchange Act.
The development could pave the way for Japan's first Bitcoin ETF, potentially launching as early as 2028. Major financial firms like SBI Holdings and Nomura are reportedly developing crypto investment products.
Community reaction has been mixed, with some viewing it as a 'quiet policy U-turn' for Japan, which had previously taken a cautious approach to the industry following the collapse of Mt. Gox.