Topic: Japan Regulators Denies Considering Approving a Bitcoin ETF - page 2. (Read 289 times)
To be honest, I don't see such events affecting Bitcoin in the long run. However, legal recognition definitely improves the growth rate of adoption but expecting it from centralised authorities is a bold idea. I do see growth in the user base in the coming decades and not only finance but also other sectors will shift mechanism towards decentralisation for the better ecosystem.
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 anyway? To create some more speculation around the market?
thats bad! I really thought Japan will become the pioneer of BTC ETF!
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.
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!
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
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/
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