The Tokyo Financial Exchange To Also Launch Bitcoin Futures

We already talked about the massive potential of trading with Bitcoin futures. As soon as JPMorgan Chase made the announcement official, it seems like many other markets are looking to do the same thing.

Tokyo’s Financial Exchange Is Joining The Leaders With This Decision

The Tokyo Financial Exchange, for example, is one of Japan’s leading financial exchanges – and one of the newest institutions that is going to join the mad rush among the financial institutions in supporting bitcoin as a financial product.

The first steps for the Tokyo Financial Exchange are studying and researching the cryptocurrencies before taking a toll on the bitcoin futures trading contracts. According to the CEO Shoza Ohta, the listing is about to become Japan’s first bitcoin-based financial product. However, there are many changes to the country’s security laws and in order to make this official, the first step is to obtain the drafting legislation. Bitcoin Futures

Okta’s Official Announcement On Bloomberg

As soon as the regulatory approval kicks in, the exchange will press ahead and list the bitcoin futures as official. As Okta said in an interview with Bloomberg:

“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.”

People know Japan as one of the world’s largest bitcoin trading markets. Thanks to the friendly regulation which officially recognized cryptocurrencies as a legal method of payment (April 2017), Japan has been among the first early movers in the space. The regulatory embrace has issued even 11 licenses for bitcoin exchanges and three major banks have invested in a platform called bitFlyer which is Japan’s largest bitcoin exchange nowadays.

The future of bitcoin and cryptocurrency trading in Japan is looking bright – and this new move confirms that.