Bitcoin futures launched in Japan

1. Japan has legalized it, and it is also legal in China as an investment proct

2. Japan's financial services agency (FSA) announced earlier that the latest revised version of Japan's payment services act has been passed and officially took effect on April 1, 2017. bitcoin is recognized as a payment method in the service bill and strictly regulated
in this bill, the Legislative Council defines bitcoin as an asset rather than a currency. People can use it as a way of payment for transactions
relevant units have also put forward requirements that service providers or exchanges operating in bitcoin must register with the Prime Minister of Japan, and the capital scale must not be less than 10 million yen. They must have information technology systems that can prevent theft and loss, and must establish a variety of systems and processes, involving training, internal regulations, governance, outsourcing guidance, etc
the amendment bill also amends the prevention of the transfer of proceeds of crime act. Regulators have asked bitcoin to implement a more stringent "know your customer" process than it currently does. The exchange must verify the identity of the account opening user, keep the transaction records, and report the suspicious transaction records to the regulatory authorities.

3. The basic property of money is exchange, that is, the money you harvest can be exchanged for equivalent goods, and the price of goods is the relationship between supply and demand

2 to make a long story short, e to the risk of counterfeiting, gold is the final currency in the end, but the total proction of gold inhibits the development of global economy, and the national reputation replaces the currency in the end

3 there is no doubt about the value of gold. No one will not snatch it when they are on the ground, and no one will not beat fast. Bitcoin uses a specific algorithm to create the "rare" attribute, but this is not the essence of currency, because the exchange limitation is too large, and the holding value is limited. However, in the current era when paper money can be used as legal money and exchange money, the currency of any country actually has absolute risk, so the emergence of beyond national boundaries bitcoin has aroused the reaction of the market

4 as mentioned above, paper money has the effect of legal currency in the world, which can exchange goods (excluding depreciation), while bitcoin can exchange very few things. In other words, the more things it can exchange, the more valuable the currency is, the more valuable the currency it can exchange for necessities (US dollars), and the more valuable the currency is, the more considerable the seigniorage will be

5 to sum up, currency has the following attributes: purchasing power, recognized, credit (guarantee). In the future, new currency (or exchange method) will be born, but at present, legal currency is the most valuable, but no legal currency has the natural currency attribute of gold.

4. Pretty good, isn't it

5. Because the United States has a more complete money market, and their development time is longer than that of our country, it is certainly different.

6. 2017 is one of the best years in the history of bitcoin. Since the beginning of the year, bitcoin has generated nearly 700% returns. The Chicago Mercantile Exchange will launch bitcoin futures in the second week of December, which will make bitcoin more popular with heavyweight institutional investors. Analysts firmly believe that bitcoin will record the highest trading volume in history in December 2017. Of course, analysts expect bitcoin prices to rise another 500% or 700% on the current basis. Investors who buy for less than $3000 are not worried about short-term volatility and are waiting for a $4500 stop. Specific visible: webpage link

7. There is no such thing in Japan

8.

On August 22, 2018, the US Securities and Futures Commission (SEC) announced that it had rejected nine applications for bitcoin ETFs from ProShares, direxion and graniteshares. After the news came out, bitcoin quickly fell by more than $200, and other digital currencies also fell significantly

the SEC's main concern is still the market manipulation and fraud of bitcoin. It said that the application of ProShares failed to achieve the goal of "preventing fraud and manipulation ", and the exchange also failed to provide direct evidence to prove that the bitcoin futures market "has a significant scale "

the committee rejected the proposal because, as mentioned earlier, the exchange could not legally prove that the proposal was in line with 6 (b) (5) of the U.S. Securities and Exchange Act, especially the requirement that the national stock exchange should establish rules to avoid fraud and market manipulation

this is the same reason for rejecting other bitcoin ETF applications. At the end of July this year, the securities and Futures Commission of the United States once again rejected the Winklevoss brothers' application for bitcoin ETF after a retrial, and the market's expectation for more digital currency derivatives failed again

at that time, the SEC mentioned that the trading volume of bitcoin futures market was very small ; However, the sharp rise in prices in 2017 was e to market manipulation

although the SEC has repeatedly rejected applications for digital currency ETF procts, other exchanges still submit relevant applications for approval. Bitwise filed an ETF application in July to track a basket of digital currencies, as well as an ETF application from the Vaneck solidx bitcoin trust. The SEC said Van Eck's ETF application would be delayed until September 30

The special feature of Vaneck's ETF application is that it is a rare ETF application based on actual digital currency transaction. A series of applications for bitcoin ETF rejected on Wednesday anchored bitcoin futures