Financial Services Agency of Japan Will Not Support Cryptocurrency Futures Yet

According to a report, Japan’s Financial Services Agency (FSA) has said that financial regulator isn’t going to allow cryptocurrency futures trading for this moment.

The FSA may be afraid to allow risky investments in Japanese market, after MtGox incident. In the past ETHNews  wrote about the possible market manipulation by these financial instruments.

The FSA is the government body charged with overseeing the Financial Instruments and Exchange Act, which would have to be amended to recognize digital assets as financial products in order for related derivatives to be traded legally on Japanese exchanges. According to the official, the agency may revisit the question at a future date.

The FSA regulates not only the traditional exchanges. The agency also approves virtual currency exchanges to operate.

Have to mention, that bitcoin futures have already begun trade in Chicago Merchantile Exchange and Chicago Board Options Exchange in the United States.

The post Financial Services Agency of Japan Will Not Support Cryptocurrency Futures Yet appeared first on Bitcoin News.

from Bitcoin News https://www.cryptocynews.com/financial-services-agency-japan-will-not-support-cryptocurrency-futures-yet/
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