**Japan Ready to Test Crypto Regulations, ETFs on the Way?**
- Good news from the Land of the Rising Sun! Japan is preparing to test the effectiveness of its crypto regulations. đ
- According to Bloomberg, Japan's Financial Services Agency (FSA) will conduct a review over the next few months.
- The main goal? To see if the current regulations are sufficient to protect investors under the Payments Services Act (PSA).
- The PSA, which was first implemented in 2009, has been amended several times to keep up with developments in the crypto world.
- This regulation recognizes Bitcoin (BTC) and other cryptos as legal property and requires crypto exchanges to be registered and comply with Anti-Money Laundering (AML) and Counterfinancing of Terrorism (CFT).
- The FSA also wants to make sure whether these regulations are sufficient to protect investors, considering that many Japanese citizens use crypto as an investment.
- If this review is successful, we could see the launch of a crypto ETF in Japan, which would certainly make it easier to negotiate lower taxes.
- Curious about the results of this review? Come on, share your thoughts in the comments column!
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