Japan Group Backs Prioritizing Bitcoin, Ether for Crypto ETFs
- Members include mainstream institutions such as MUFJ Trust
- Also recommends a review of taxation on crypto assets
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A group of Japanese companies said discussion on allowing exchange-traded funds for cryptocurrencies should focus on major tokens such as Bitcoin and Ether, as the country contemplates whether to follow overseas moves to permit the instruments.
The large market value and “stable track record” of those cryptocurrencies make them suitable for investors to “build up assets over the medium to long term,” the group said in a set of proposals published on Friday. It also called for a review of taxation systems including separation of tax on income earned.