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Japanese FSA Does Not Want To Add Bitcoins ETFs, Despite Recent Rumors
Japan's Financial Services Agency (FSA) has been in the media frequently recently for the newest regulations and modifications they have established that impact cryptocurrency. In a new report from CoinTelegraph, the agency is denying interest that they would be willing to allow for Bitcoin exchange-traded funds (ETFs).
Bloomberg had released an article as recently as Monday that the FSA had been considering the approval of a Bitcoin ETF, which was provided by an anonymous source. Just after the reports were published, the regulator directly said. CoinTelegraph Japan, "At this moment, we are not looking for an ETFs based on crypto assets." the lack of evidence.
The FSA had revealed last month that they were considering a reclassification of cryptocurrencies, which would be referred to as "crypto assets." With this new category, the government was trying to establish clarity in the definition, hoping that
"Traders will no longer purchase [cryptocurrencies] believing that they are legal tender recognized by the government. "
Had been changing the term "virtual currency", "out of concern that there would be additional confusion. In another report, it was revisited by the FSA that would govern the unregistered companies that solicited crypto investments. This addition to the present regulation of fiat currency in the same manger would be eliminated from the loophole that some investors and local companies are abusing.
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