Japan's Financial Regulator Cautious About Cryptocurrency ETF

The head of Japan's financial regulator says “careful consideration” is needed when deciding whether to follow Hong Kong and the U.S. in approving cryptocurrency-linked exchange-traded funds.
Hideki Ito, head of Japan's Financial Services Authority, said many people believe crypto assets “may not necessarily contribute to wealth creation for the Japanese people in a stable, long-term manner.
Ito said the agency wants to maintain a “pro-technology stance” and won't completely rule out cryptocurrency ETFs. But there are some things to consider in terms of whether the public should be encouraged to invest in these products.