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.

Japan remains cautious about integrating cryptocurrency-based exchange-traded funds (ETFs) into its financial ecosystem, contrasting with the proactive stances of other global economies like the United States and Hong Kong.

Tax and regulatory restrictions continue to loom large even as firms make preparations to launch digital asset products

Japan’s regulators remain cautious about crypto ETFs, citing volatility and tax concerns, despite global markets, including the US, approving spot Bitcoin and Ether ETFs.

Japan prohibits firms from investing in crypto investment products. This has led to the country falling behind its rivals. Experts suggest Japan needs to change

Japan is still not ready to approve Bitcoin or any other crypto exchange-traded funds (ETFs), despite global markets like Australia, the U.S. and Hong Kong moving forward with theirs. The country is known for its ambitions to lead in crypto,