Whereas competitors from the United States, the Tokyo financial exchange is currently preparing to release their own futures product based on bitcoin.
According to the Executive Director of the exchange Sosa OTA, the facility initially will create a working group for study and research of cryptocurrencies, before you impose contracts on bitcoin futures. The introduction of bitcoin futures, requires a change in the securities laws, and the first step in this direction will be the establishment of a working group on drafting the bill. After regulatory approval, the exchange plans to launch bitcoin futures as quickly as possible.
After the Law on the financial instruments and exchange recognizes crypto-currencies as a financial products we intend to launch bitcoin futures as soon as possible. To achieve this, we will initiate the establishment of a working group whose aim is the study of all aspects related to the functioning of the cryptocurrency.
Japan is one of the largest bitcoin markets in the world. This country was the first to recognize cryptocurrency’s number one legal tender. She also started one of the first licensed cryptocurrency exchange.
Recall that the Chicago CBOE has confirmed the launch of bitcoin futures on 10 December. And also the CME of Chicago plans to launch bitcoin futures on December 17.