Analytics / Forex and Crypto News
The Japanese Financial Services Authority (FSA) has abandoned plans to allow cryptocurrency-based derivatives listed on exchanges, but it can approve ETFs that track this asset class. This became known to Bloomberg from its own source.
The FSA is currently assessing the industry’s interest in crypto-ETF, the source said.
The regulator refused to amend the law on securities, which would allow placing cryptocurrency futures and options on traditional stock exchanges, as it concluded that such products would lead mainly to speculation.
The agency also decided to provide more powers to the industry’s self-regulation bodies, put a large part of the ICO under the law on securities and limit the maximum leverage for crypto brokers.
It is assumed that all these FSA conclusions will serve as the basis for a bill that will amend the existing financial rules.
At the end of December FSA presented the final conclusions of the working group on the regulation of the cryptocurrency market.
During November, ICO-projects sold 416K ETH. This is the largest figure since the summer, reports Trustnodes.
According to Santiment, in August, ICO startups sold only 100,000 ETH. In September, sales of digital currency increased significantly, reaching 300 thousand ETH. In Nov