According to foreign media reports from COINOTAG on October 2, Japan is preparing to assess the success of its cryptocurrency regulations. This evaluation, scheduled within the coming months, may potentially lead to the introduction of a cryptocurrency exchange-traded fund (ETF) in the country. A representative from Japan’s Financial Services Agency (FSA) indicated that the review would determine if the existing cryptocurrency regulation framework under the Payment Services Act (PSA) remains adequate. Originally established in 2009, the PSA has undergone several revisions by Japanese legislators to accommodate the evolving financial services environment shaped by digital currencies. The legislation classifies Bitcoin and other cryptocurrencies as legitimate assets. Additionally, it mandates that cryptocurrency exchanges must be registered and adhere to the nation’s anti-money laundering (AML) and counter-terrorism financing (CFT) requirements.
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