According to PANews, Japan's financial regulatory authority is urging caution in deciding whether to approve cryptocurrency-linked exchange-traded funds (ETFs), similar to moves made by Hong Kong and the United States. Hideki Ito, the head of Japan's Financial Services Agency (FSA), stated in an interview that many believe crypto assets may not consistently and long-term contribute to wealth creation for the Japanese populace. Ito, who assumed his role in July, noted that other countries have adopted a more conservative stance on retail investors' involvement in cryptocurrencies.

Ito emphasized that the FSA aims to maintain a supportive stance towards technology and does not entirely rule out the possibility of cryptocurrency ETFs. However, he added, "We need to consider several factors regarding whether we should encourage the public to invest in these products."