Japan's Financial Services Agency (FSA) is contemplating a significant shift in its regulatory stance towards cryptocurrency investments, potentially allowing local spot crypto ETFs by 2028. This move aligns with recent developments in the United States, where similar approvals have been granted. The publication provides the following information:
Proposed Change to Investment Trust Act
The proposed change involves amending the Investment Trust Act to categorize virtual currencies as specific assets eligible for investment trusts.
Impact of Lifting the Ban on Crypto ETFs
If the ban on crypto ETFs is lifted, individual investors in Japan would gain the opportunity to invest in cryptocurrency ETFs through their brokerage accounts, akin to how they currently invest in stock or gold ETFs.
Significance for the Japanese Crypto Market
This could mark a pivotal moment for the Japanese crypto market, potentially increasing accessibility and participation among retail investors.
SBI VC Trade recently launched a Litecoin lending service for Japanese users, enhancing the country's crypto offerings amid potential regulatory changes by the FSA regarding crypto ETFs. For more details, see read more.
