Tokyo Financial Exchange planning to begin BTC Futures
December 6, 2017 5:41 am
The Tokyo Financial Exchange is one of the Japan’s top financial exchange, has announced that they will start preparing for the Bitcoin futures offering at the beginning of 2018. The organization owes some high-value trading partners such as JP Morgan Chase and Barclays.
The announcement proposes that the exchange will build a working group to learn cryptocurrencies and the benefits for the futures this January. The working group is the final step towards the final action and this is generally a strong signal for the adoption as it has approved the legislation before.
The CEO Shozo Ohta says:
“Once the Financial Instruments and Exchange Act recognizes cryptocurrencies as financial products, we will list the futures as quickly as possible. To achieve that, we will launch this working group to study various aspects, including Bitcoin’s present status, its outlook, and what form it will take root in Japan’s society.”
The announcement falls in line with Japan’s previous moves into the adoption of the Bitcoin and other cryptocurrencies. Japan was the only country which recognized Bitcoin as a legal payment method and has been increasing the changes. Japan is the world’s largest Bitcoin market, with around half of all Bitcoin trades globally being dominated by yen.