In the aftermath of what happened with Mt. Gox, it was expected that the Japanese would avoid such a situation in future by implementing these regulations and imposing strict oversight with regular
audits. I have no problem with that at all, because they have a responsibility to protect the consumer. For one thing, they did not over react and implemented excessive and restrictive regulations that
would kill innovation or license it to make money off of that, like the regulators did in New York with the BitLicense.
audits. I have no problem with that at all, because they have a responsibility to protect the consumer. For one thing, they did not over react and implemented excessive and restrictive regulations that
would kill innovation or license it to make money off of that, like the regulators did in New York with the BitLicense.
Exactly this!
It seems japanese government and regulators have realized the potential of Bitcoin and cryptos and want to give it enough space to grow and develop in their country.They see it as a possibility, as a chance and not as threat!
Japan is on the right path.
New York will regret it sooner or later.
