The Tokyo Financial Exchange, one of the major stock exchanges of Japan, announced that it would begin its preparations for the futures of Bitcoin at the beginning of the year 2018. The company has trading partners of great value, such as JP Morgan Chase and Barclays.
Tokyo Financial Exchange wants to expand its horizons
The announcement suggests that the platform will build a working group to explore crypto-currencies and the potential of futures contracts in January. The working group is the first step towards the final action, and is generally a strong signal for the adoption, as he preceded the legislation for approval. According to the CEO Shozo Ohta : “once the Law on the Financial Instruments and Exchange will recognize the crypto-currencies as financial products, we will list the futures contracts as quickly as possible. To do this, we’re going to launch this working group to study various aspects, including the status to study various aspects, including the current status of Bitcoin, its future prospects and the manner in which it will take root in japanese society. “
Japan is becoming more and more like a leader in the field of crypto-currency
The announcement falls in line with the previous initiatives of Japan for the adoption of Bitcoin and other crypto-currencies. The country has been one of the first to recognize Bitcoin as a mode of payment is legal and has been open to the changes growing. At present, Japan is the biggest market of the Bitcoin in the world, approximately half of all exchanges of Bitcoin are denominated in Yen.
Source : Cointelegraph