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Deep Tide TechFlow news: On June 01, according to CoinDesk, Japan’s ruling Liberal Democratic Party proposed establishing a legal framework for trading cryptocurrency ETFs and promoting the use of the Japanese yen stablecoin. A subgroup within the party that advocates blockchain technology has submitted the relevant proposal to Finance Minister Satsuki Katayama. The proposal says that cryptocurrency ETFs can provide investors with a more understandable way to invest.
Previously, Japan’s Cabinet approved a draft amendment in April to classify cryptocurrencies as financial products rather than payment tools.