Japan’s Top Finance Regulator Hesitant on Crypto ETF Approvals

The head of Japan’s finance regulator said “cautious consideration” is needed in deciding whether to follow the likes of Hong Kong and the US by approving crypto-linked exchange-traded funds.

Many people believe cryptoassets “do not necessarily contribute to the wealth creation of the Japanese people in a stable and long-term manner,” said Hideki Ito, commissioner of the Financial Services Agency, in an interview.

Hideki Ito

Photographer: Taiga Uranaka/Bloomberg

His remarks come after a softening in the stance of regulators globally on ETFs that invest directly in Bitcoin and Ether. The US Securities and Exchange Committee grudgingly gave the green light to the ...