Financial Exchange in Tokyo planning to launch Bitcoin futures

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According to today Bloomberg’s News report, Tokyo Financial Exchange has formed a working group as part of an early attempt to begin listing futures contracts based on the cryptocurrency. This would be a first step toward a change in Japanese national legislation that would clear the runway for a bitcoin future.

Disclosure of information was held on December 1 during a press conference held by CEO Shozo Ohta, during which he said that the exchange would seek to quickly await the approval of regulatory bodies.

Ohta said: “As soon as the Financial Instruments and Exchange Act recognizes cryptocurrencies as financial products, we will list the futures as quickly as possible.”

The fact that the exchange would move to even study the launch of bitcoin futures may not be surprising, given the efforts of such firms as CME Group and CBOE, to create such products in the U.S. As previously reported, it is expected that CBOE future trading will begin at the end of Sunday, the CME starting its work in about a week later.