Hideki Ito, the head of Japan’s Financial Services Agency (FSA), stated the need to “carefully consider” whether to allow the launch of cryptocurrency exchange-traded funds (ETFs) in the country. He emphasized that such a move could have long-term implications for Japan’s financial stability.
“Many believe that crypto assets do not necessarily contribute to the sustainable and long-term enrichment of the Japanese people,” he noted, adding that hasty decisions could harm the country’s economy.
On the international stage, crypto funds are already being traded in countries such as the United States, Hong Kong, Australia, and others. However, as Ito pointed out, some countries, despite having crypto funds, maintain a much more “conservative approach” to crypto investments by retail investors. This indicates that the approval of cryptocurrency ETFs should be done with all potential risks in mind and in the best interest of the national economy.
