Preliminary assessment 🧐

Japan’s Financial Services Agency (FSA) may be open to approving crypto exchange-traded funds (ETFs). Bloomberg reports that the FSA is currently ascertaining institutional interest in ETFs that track cryptocurrencies and could lead to them giving the green light. 😊

The report added that Japan’s ruling Liberal Democratic Party will submit a draft legislation by March 2019 which may include amendments to existing financial rules and more self-regulatory financial oversight. It could lead to the classification of ICO tokens as securities,and come become law by 2020. 🤞

However, Bloomberg added that the FSA has now dropped plans to include approval for trading crypto derivatives (e.g. futures) on financial exchanges due to concerns the products would mainly lead to speculation.

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