Japan's Financial Services Agency is said to be in no hurry to enable the listing of futures contracts linked to cryptocurrencies
Bloomberg reports that the FSA has had internal discussions on the matter and sees no need for law changes to allow such products into the market, citing a senior official with direct knowledge of the matter.
In order for cryptocurrency futures trading to take place in Japan, cryptocurrencies must first be recognised as financial products and that requires a change in legislation by the FSA.
Japan is one of the hotbeds for cryptocurrencies, as it accounts for a significant portion of Bitcoin trading activity.
Meanwhile, Bitcoin prices are still "range-bound" today as it trades around the $10,000 region - with the 100-day MA proving to be a resistance level that buyers are still struggling to break through:-
