Bitcoin Futures By Tokyo Financial Exchange

One of Japan’s leading financial exchanges prepares to start launching bitcoin derivatives. The Tokyo Financial Exchange Inc has intention to create working group in January to study cryprocurrencies. This was informed by Chief Executive Officer Shozo Ohta, who told reporters late last week.

“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,” Ohta told reporters last Friday.

Japan became the first country recognizing bitcoin as a legal means of exchange and enacting oversight of bitcoin exchanges. This event took part in April of this year. To date, 15 venues have received licenses from the Financial Securities Agency. Japanese exchanges by some estimates account for roughly half of global bitcoin trading volume, boosted by an unusual business model that doesn’t charge trading fees.