Japan's ruling party supports crypto ETF trading, yen-based stablecoins

Japan's ruling Liberal Democratic Party said the country should create a legal framework for trading crypto ETFs in a proposal to the finance minister. What to know : Japan should create a legal framework for trading cryptocurrency ETFs, the ruling Liberal Democratic Party said. A party panel also said the state should promote usage of yen-based stablecoins. Japan would be joining other major markets such as the U.S. and Hong Kong in offering ETFs as a way to gain exposure to the crypto market without having to buy and store the underlying assets themselves.