Japan to Evaluate Cryptocurrency Regulations, Potentially Creating Conditions for Crypto ETFs

BY admin user

Japan plans to evaluate the effectiveness of its cryptocurrency regulations in the coming months, potentially paving the way for the introduction of cryptocurrency exchange-traded funds (ETFs) in the country.

An official from the Financial Services Agency (FSA) stated that the review will assess whether the current regulatory framework under the Payment Services Act (PSA) is sufficient. The PSA, initially enacted in 2009, has been amended multiple times by Japanese lawmakers in response to changes in the financial services landscape brought by digital currencies. The act recognizes Bitcoin (BTC) and other cryptocurrencies as legal property. It also requires cryptocurrency exchanges to register and comply with the country’s anti-money laundering (AML) regulations.

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