One of Japan’s leading financial exchanges is starting preparations to launch bitcoin derivatives, echoing U.S. rivals that plan to list contracts tracking the cryptocurrency as soon as this month.
Tokyo Financial Exchange Inc., which counts JPMorgan Chase & Co. and Barclays Bank Plc among its trading participants, plans to create a working group to study cryptocurrencies in January, Chief Executive Officer Shozo Ohta told reporters late last week. The listing would require changes to the nation’s securities law, he said. In Japan, the start of a working group is typically the first step toward drafting legislation.
