Tokyo Financial Exchange: Soon Bitcoin Futures
While China is snubbing cryptocurrency, Japan or more precisely the Tokyo Financial Exchange is preparing to launch futures based on Bitcoin.
What the Tokyo Financial Exchange provides
Unlike other countries that are still suspicious of cryptocurrency transactions, Japan attaches great importance to the adoption of digital currencies, and this has once again been proven.
The good news (for traders) comes from the Tokyo Financial Exchange which is planning the upcoming launch of Bitcoin futures. The Japanese leader in financial trading announced his new project through their secretary general, Shoza Ohta.
How will they proceed?
According to the general manager, Shoza Ohta, his team will start by creating a working group to study and research cryptocurrencies. And it is only after that Bitcoin futures will be registered.
Ohta explains later that they will list futures as soon as the Trade and Financial Instruments Act recognizes digital currencies as financial products. In other words, they will simply have to wait for regulatory approval before taking action.
Investors are moving
Pending the launch of these futures contracts, it is worth remembering that since April 2017 bitcoin has been legally recognized throughout Japan and can be used like any other means of payment.
Thanks to this, cryptocurrencies have become increasingly used in Japan, which has become one of the largest Bitcoin markets in the world. This was confirmed last Tuesday in the financial press where you could read that the country of the rising sun had half the share of the global Bitcoin market. In addition, licensed exchanges continue to multiply, like the 11 licenses (on cryptocurrency trading platforms) recently issued by the country's financial regulator.
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Pending the launch of these futures contracts, it is worth remembering that since April 2017 bitcoin has been legally recognized throughout Japan and can be used like any other means of payment.