今年早些时候，加密Some Japanese companies say discussions about allowing cryptocurrency exchange-traded funds (ETFs) should focus on major tokens such as Bitcoin and Ethereum.
The Zhitong Finance App learned that some Japanese companies said that discussions on allowing cryptocurrency exchange-traded funds (ETFs) should focus on major tokens such as Bitcoin and Ethereum because the country is considering whether to follow overseas initiatives to allow these investment tools.
The organization said in a series of proposals released on Friday that the huge market capitalization and “stable track record” of these cryptocurrencies make them suitable for investors to “accumulate assets over the medium to long term.” It also called for a review of the tax system, including segregation of income taxes.
The US debut of a crypto ETF earlier this year is considered a watershed moment for the digital asset industry, which has long been battling with regulators over the launch of funds backed by Bitcoin and Ethereum. So far, Japanese regulators have taken a more cautious approach, and the head of Japan's Financial Services Agency expressed doubts about the value of such funds in an August interview.
A Financial Services Department official said last month that the agency will review its approach to cryptocurrency regulation, a move that could pave the way for investment and lower taxes. The official warned that this assessment has no established conclusion and may take some time to complete. Japan currently imposes a tax of up to 55% on cryptocurrency earnings.
