Japan is going big! 🇯🇵 According to foreign media reports, Japan plans to evaluate the effectiveness of its cryptocurrency regulations. This review will be conducted in the next few months and may pave the way for the launch of cryptocurrency exchange-traded funds (ETFs). Officials from the Financial Services Agency (FSA) of Japan said that the review will measure whether cryptocurrency regulation under the Payment Services Act (PSA) is sufficient.

Since its enactment in 2009, the PSA has been revised several times to cope with changes in digital currencies. Cryptocurrencies such as Bitcoin are regarded as legal property in Japan, and exchanges are required to register and comply with anti-money laundering (AML) and counter-terrorism financing (CFT) obligations.

What changes do you think Japan's evaluation will bring? See the comments section! 💬