A report from Bloomberg News said earlier today that the Tokyo Financial Exchange has created a team as part of an early effort to start listing Bitcoin Futures contracts based on cryptocurrency. This is one of the first steps taken in Japan towards changing the Japanese national law that would help clear the runway for the future of Bitcoin.
The news was disclosed on 1st December by CEO Shozo Ohta, when he said that the exchange would seek to move quickly pending regulatory approval. He added:
“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.”
Considering the latest moves coming from CME Group and CBOE to launch Bitcoin Futures in the US, it is not surprising at all that the Japanese exchanges wouldn’t want to miss out on the opportunity.