Securities Law Only Barrier To Japan’s Bitcoin Futures
In the first major copycat move since the announcement by US regulators that futures could begin trading this month, booming Bitcoin market Japan will now study how it can follow suit.
“Once the Financial Instruments and Exchange Act recognizes cryptocurrencies as financial products, we will list the futures as quickly as possible,” Tokyo Financial Exchange’s Shozo Ohta told the press late last week quoted by Bloomberg.
To achieve that, we will launch this working group to study various aspects, including bitcoin’s present status, its outlook, and what form it will take root in Japan’s society.
Lawmakers will specifically need to adjust securities legislation in order for Bitcoin products to launch. Meanwhile, the working group brings optimism of its own, Bloomberg noting such mechanisms generally preclude the successful introduction of the feature under review…