Japan will always carefully consider the technologies that did not make itself, the country is very developed and it does not want to, God forbid, miss it.
You're right about Japanese carefully consider technologies but I'm surprised with what the Japanese regulators did because we all know them as a country thats crypto friendly and everybody in the crypto community see bitcoin ETF as a way to push the crypto business forward. However, i believe the Japanese denies the bitcoin ETF approval because they want to see what the US SEC will do first which the reason behind their actions. 
Topic: Japan Regulators Denies Considering Approving a Bitcoin ETF (Read 314 times)
Japan will always carefully consider the technologies that did not make itself, the country is very developed and it does not want to, God forbid, miss it.
Even though the Japan regulators might not be interested to approve a bitcoin ETF at the moment, but I believe if the USA government officials have decide to approve a bitcoin ETF, Japan will eventually launch a bitcoin ETF in their own country too, and I believe the chance for a bull market to return in the crypto-currencies trading market would be high.
ETFs will eventually be accepted in multiple different countries, nobody is waiting for others to do it first. they have other kind of concerns, not to mention that the ETF proposals were somewhat flawed for example when it comes to getting their price they were relying solely on one exchange. and some other issues that have been outlined before.
Japan is very intelligent and developed country, so the question to such a serious topic is important, that is, they are all very carefully considered before they let something into their country. Of course there will be a lot of manipulations, various news about this, so it’s worth checking the sources from where this material comes from.
Even though the Japan regulators might not be interested to approve a bitcoin ETF at the moment, but I believe if the USA government officials have decide to approve a bitcoin ETF, Japan will eventually launch a bitcoin ETF in their own country too, and I believe the chance for a bull market to return in the crypto-currencies trading market would be high.
Hopely SEC will approve bitcoin ETF and BAKKT start. Japan is one largest country in cryptomarket and i think if FSA approve bitcoin ETF it will be good for bitcoin price and cryptomarket. Decision already been made and i think crypto will survive with ETF approval or not
Quote
The FSA has now denied its interest in ETFs, for the time being, suggests the news reported at Bloomberg may have been fed by someone with an interest in reviving interest in crypto trading in Japan.
A spokesperson for the agency clarified on Friday:
There is no such fact that we are considering approving ETFs which track crypto-assets at present … we are not currently considering approving them.
A spokesperson for the agency clarified on Friday:
There is no such fact that we are considering approving ETFs which track crypto-assets at present … we are not currently considering approving them.
That sounds about right. I always thought the story sounded fishy. Not long ago, the FSA was really negative about allowing Bitcoin futures. Moving to approve an ETF shortly after wouldn't make any sense.
I get the feeling the FSA wants to dampen Bitcoin speculation, not add to it.
Japan is going in the right direction and will not legalize Bitcoin futures. This may cause even higher manipulation on the market by big players. Now the bitcoin community is still too small for this
Japan’s Financial Services Agency (FSA) has denied that it is considering allowing Bitcoin (BTC) exchange-traded funds (ETFs).
Last week, several sources including Bloomberg reported that Japan is exploring the possibility of approving Bitcoin ETFs as an alternative to Bitcoin futures.
The FSA has now denied its interest in ETFs, for the time being, suggests the news reported at Bloomberg may have been fed by someone with an interest in reviving interest in crypto trading in Japan.
A spokesperson for the agency clarified on Friday:
There is no such fact that we are considering approving ETFs which track crypto-assets at present … we are not currently considering approving them.
Read More: https://bitzamp.com/japan-regulators-denies-considering-approving-a-bitcoin-etf/
Last week, several sources including Bloomberg reported that Japan is exploring the possibility of approving Bitcoin ETFs as an alternative to Bitcoin futures.
The FSA has now denied its interest in ETFs, for the time being, suggests the news reported at Bloomberg may have been fed by someone with an interest in reviving interest in crypto trading in Japan.
A spokesperson for the agency clarified on Friday:
There is no such fact that we are considering approving ETFs which track crypto-assets at present … we are not currently considering approving them.
Read More: https://bitzamp.com/japan-regulators-denies-considering-approving-a-bitcoin-etf/
I really can't understand why people are so obsessed with Bitcoin ETF. If you have already bought your cryptos you don't need an ETF. I can agree that it will probably increase the value of the market but personally, I am more focused in bringing real value to the world with Blockchain and mass adoption rather than creating a market that institutional traders will be able to manipulate easier.
There should be predictions. It's not going to be easy. It's not going to be real.
Since crypto exchanges are legal, why do they need ETF anyway? To create some more speculation around the market?
Mind you, that opens a big can of worms
As you can be asked mostly the same question, i.e. why do any other ETS's exist in the first place? There are commodity ETF's (e.g. engaged in gold operations), bond ETF's, index ETF's and likely many other types of exchange traded funds. Add to this futures and options as well as indexes. Why do these exist at all? It goes without saying, they add up to speculation massively but is it only about speculation or maybe there's something else involved?
It's not a positive news but it's not so sad either. I always say that the ecpectations from ETF are exaggerated. I don't think that acceptance would influence Bitcoin in so significant way.
But this denial doesn't influence the good reputation of Japan as a cryptocurrency friendly and very progressive country.
But this denial doesn't influence the good reputation of Japan as a cryptocurrency friendly and very progressive country.
That is sad news, but if bakkt is successful then there is likely to be an equivalent version in japan. If demand is there by investors then someone will find a way to make it happen
There has been a big shift in investors not only in Japan but in overall Asia. So there will be a solution, with time. Southeast Asia has been showing high demands and even though the government is not fully on board just yet, it will happen. Well, that's good news! There's no reason for being sad about it! These ETFs wouldn't have done any good to the market, instead it would have increased the speculation only without even investing in actual asset. Majority of the ETFs waiting at SEC's door, are synthetic ETFs where actual physical assets will not be traded in the market. So there's no need to be excited either!
I believe only Winklevoss one was the physical ETF proposed to SEC initially. Rest all 8 ETFs were synthetic. So it is better not to see them approved. Initially we thought Japan is the most crypto friendly country when they decided to regulate cryptos, but later when they start to charge exorbitant taxes upto 55%, the eyewash became prominent! So if Japan is not considering any ETF approval, it's good! Lets not outsiders speculate our ball game!
I believe only Winklevoss one was the physical ETF proposed to SEC initially. Rest all 8 ETFs were synthetic. So it is better not to see them approved. Initially we thought Japan is the most crypto friendly country when they decided to regulate cryptos, but later when they start to charge exorbitant taxes upto 55%, the eyewash became prominent! So if Japan is not considering any ETF approval, it's good! Lets not outsiders speculate our ball game!
But would you be hoping the approval of Winklevoss proposal to be approved?
Its really frustrating that people are waiting for it taking out their investment because they have to wait what effect if could do so if any of the proposal is approved then I think the speculations will end and we can go on.
I am not sure if I am understanding your point correctly. Can you please let me know how speculation games will end if the ETFs are approved? Instead it will increase the speculation game without touching the actual asset. Can you please elaborate your point?
Maybe, he meant speculations as in idle talk about crypto
That is, not market speculations as what we are all used to here. But I'm not sure if these ETF's are paper only, i.e. their paper should be backed up by hard assets, in this case by bitcoins (that depends on their investment declaration). As I get it, ETF's are not the same as Bitcoin futures which are in fact cash-settled only and contribute to volatility (apart from Bakkt initiative, which hasn't been approved yet anyway)
Welcome to the FUD year. It's 2015 once again. Do you remember how there were rumors that China is banning BTC they denied everything and a month later somebody else came up with a story that insides are telling him that it's going to be banned and then again nothing happened. Later there was FUD about South Korea banning Bitcoin and now we had rumors of Russia buying and this. Don't believe the media!
They just said that this is not under consideration right now. It's not denial of ETF proposal, like with SEC. It's simply not looking in that direction. Japan is still one of the best countries in terms of policies towards cryptocurrencies. Both cryptos and exchanges are legal, and the former are taxed if they are received as income or held as long-term investment (pretty much, like with fiat in many countries, I suppose). Since crypto exchanges are legal, why do they need ETF any
way? To create some more speculation around the market?
way? To create some more speculation around the market?
I agree with you that Japan is very open to encryption
It is did not deny it
But very high tax rates are almost 55%
Volume has made it very shrinking.
Well, that's good news! There's no reason for being sad about it! These ETFs wouldn't have done any good to the market, instead it would have increased the speculation only without even investing in actual asset. Majority of the ETFs waiting at SEC's door, are synthetic ETFs where actual physical assets will not be traded in the market. So there's no need to be excited either!
I believe only Winklevoss one was the physical ETF proposed to SEC initially. Rest all 8 ETFs were synthetic. So it is better not to see them approved. Initially we thought Japan is the most crypto friendly country when they decided to regulate cryptos, but later when they start to charge exorbitant taxes upto 55%, the eyewash became prominent! So if Japan is not considering any ETF approval, it's good! Lets not outsiders speculate our ball game!
I believe only Winklevoss one was the physical ETF proposed to SEC initially. Rest all 8 ETFs were synthetic. So it is better not to see them approved. Initially we thought Japan is the most crypto friendly country when they decided to regulate cryptos, but later when they start to charge exorbitant taxes upto 55%, the eyewash became prominent! So if Japan is not considering any ETF approval, it's good! Lets not outsiders speculate our ball game!
But would you be hoping the approval of Winklevoss proposal to be approved?
Its really frustrating that people are waiting for it taking out their investment because they have to wait what effect if could do so if any of the proposal is approved then I think the speculations will end and we can go on.
I am not sure if I am understanding your point correctly. Can you please let me know how speculation games will end if the ETFs are approved? Instead it will increase the speculation game without touching the actual asset. Can you please elaborate your point?
This of course is very sad. I think that this event will not have any impact on the market. The adoption of bitcoin ETF has already been postponed so many times that no one even hopes that the SEC will approve it. But who knows. I think now is the most uncertain time in the market. We can only observe what is happening and speculate.
Well at least, Japan doesn't really closed the door and let the public anticipate for something that they don't really like in the moment, not unlike the SEC who are giving innuendos regarding ETF approvals yet constantly deny them by stating the same reasons over and over again. I think this is also good, given that the market would only be speculated hard enough and volatility would soon rise without these guys getting their feet wet on the actual market. They really are crypto-friendly and they just don't want the market to get diluted even more by capitalists.
I do not think that bitcoin is very much needed ETF as he was able to achieve amazing results without the intervention of the government. I'm not saying that ETF is useless but bitcoin can survive without it. We appreciate bitcoin because it is unique in our world and I do not think ETF is very important !
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