Rand Corporation analysts said that the US-Japan trade deal should involve crypto as it could lay the groundwork for crypto adoption in international trade. As reported in the opinion piece published in the Nikkei Asia, the analysts at Rand Corporation put forward the arguments supporting their clamor for crypto to be a part of the digital trade deal.
The two analysts at the American policy think tank Rand Corporation, Sale Lilly and Scott W. Harold, have called on the US and Japan to include crypto in the bilateral digital trade deal between the two nations.
In accordance with the article, the fact that both nations play host to two of the largest crypto markets in the world makes the barring of crypto assets from the trade deal surprising.
As revealed, the US-Japan Trade Agreement of the year 2019, does not include crypto or blockchain technology, though some sections of the agreement may cover non-financial aspects of the novel technology.
In addition to this, it should be noted that according to the United States Bureau of Economic Analysts data, the digital economy of America surged to $2.1 trillion in the year 2019, which is almost 10% of the GDP of the country.
In accordance with recently released data by Bybt, the traders have opened over 10,900 worth of Bitcoin positions on the $50K call options.
Well talking about the risk-to-profit ratio here, generally, the options are not utilized to directly trade and bet on any Bitcoin price. However, due to high fluctuations in the market and the fast growth of Bitcoin, there might arise a situation in which private traders are trying to make a good profit by purchasing high-risk assets.
Meanwhile, the price of the flagship currency has notably surged by around 34% and has managed to touch the mark of $40K. High open interest on options calls can be considered a bullish sign for the market.
Moreover, it should be noted that high volumes on put (Sell) options are also recorded.