TechFlow reported on August 7 that the head of Japan's financial regulator said that "careful consideration" is needed when deciding whether to approve exchange-traded funds (ETFs) related to cryptocurrencies. Hideki Ito, director of the Financial Services Agency, pointed out that many people believe that crypto assets "do not necessarily promote wealth creation for the Japanese people in a stable and long-term way."

Ito said other countries have taken a more "conservative stance" on cryptocurrency investments by retail investors. He stressed that the agency wants to maintain a "pro-technology stance" and will not completely rule out the possibility of cryptocurrency ETFs, but more in-depth considerations are needed when encouraging the public to invest in these products.