Japan considers approving cryptocurrency ETFs, industry organizations believe discussions should focus on Bitcoin and Ethereum

ChainCatcher news, according to Jinshi reports, Japan is considering whether to follow overseas measures to allow ETF investments in cryptocurrencies. Some Japanese companies have stated that discussions should focus on major tokens such as Bitcoin and Ethereum.

Organizations including major trust banks like Mitsubishi UFJ and Sumitomo Mitsui, cryptocurrency exchanges like bitFlyer, and brokerage firms like Nomura Securities and SBI Securities have proposed a series of suggestions, arguing that the huge market capitalization and "stable returns" of these cryptocurrencies make them suitable for investors to accumulate assets in the medium to long term.

Additionally, the proposal calls for a review of the tax system, including the separation of income taxation. So far, Japanese regulators have taken a more cautious approach. Officials from the Financial Services Agency of Japan stated last month that the agency will review its cryptocurrency regulatory approach, and this assessment has no predetermined conclusion and may take some time to complete.