Japan is moving closer to approving its first Bitcoin exchange-traded fund (ETF), with a major overhaul of crypto investment rules expected by 2028. The Financial Services Agency (FSA) will shift oversight of spot cryptocurrencies from the Payment Services Act to the Financial Instruments and Exchange Act, placing them under a framework similar to traditional financial products. The Japanese market could attract up to 3 trillion yen in inflows by fiscal 2028. Major financial institutions such as SBI Holdings are already positioning themselves, with SBI targeting 5 trillion yen in assets under management in this sector.
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