Japan: financial Supervisory authority has denied Bitcoin-ETF-examination

the The Japanese regulatory authority, the FSA has denied rumors of a possible test of exchange-traded Bitcoin Fund (ETF). The Statement was followed by a demand, after the US news Agency Bloomberg had reported at the beginning of January of the respective plans.

Polina Khubbeeva
11. January 2019TeilenFacebookTwitterLinkedInxingemail

It was the only Hope for a short one. Just two days after Bloomberg reported, citing insider reports of a possible ETF-examination by the Japanese financial Supervisory authority (FSA), rejected the authority of all the speculation.

„at this time, no permits for Crypto asset-based stock market-tested funds“, it was called on demand of Cointelegraph Japan on 9. January. Previously, there had been reason to believe that the Japanese regulators, to draw a publicly-traded Bitcoin Fund in recital.

The Japanese financial Supervisory authority does not react for the first Time with rejection to the Bitcoin Trend: in December 2018, the FSA, Futures, and other derivatives in Bitcoin has rejected. The action taken by the FSA, in particular, the issue of investor protection plays a big role. After hackers in January, managed to steal the crypto-exchange Coincheck is around 430 million euros in NEM-Tokens, the Japanese stock market supervision, actively against security risks and possible fraud.

the long road to the ETF is Worth it?

The possible introduction of a Bitcoin ETF has been discussed lately, especially by the US securities and exchange Commission SEC in the recital. After the Van Eck SolidX Bitcoin ETF for the first time a product was designed that could withstand the rigorous demands of the SEC, seem to be the decision-makers with the approval plenty of time. The hope of the Bitcoin community that this process accelerates in Japan, suddenly, has dissolved for the time being in the air.

the introduction of an ETF also under Bitcoin experts is not without controversy. Although the feed in the stock market trading would increase the acceptance of the crypto-currency, and first of all, the price-enhancing effect. The young crypto-currency would then have to hold a spontaneous increase in the demand.