This seems just for the purposes of taxing it, and to help prosecute people when financial laws are being circumvented. For example, because of loopholes in US law, you can legally play online poker with bitcoin, because the government doesn’t recognize it.
I’d expect to see every government do this, but that doesn’t make it a currency in the eyes of the law, just a taxable, controllable asset.
Topic: [2017-03-30] How Japan Prepares to Recognize Bitcoin as Method of Payment on... (Read 343 times)
April 01, 2017, 08:15:57 AM
March 30, 2017, 02:42:27 AM
News Bitcoin - How Japan Prepares to Recognize Bitcoin as Method of Payment on April 1
In February, Bitcoin.com reported that the first Japanese bill containing digital currencies, recognizing Bitcoin as a method of payment, was expected to enter into force sometime in April. Last week, the Japanese Financial Services Agency (FSA) officially announced that the exact date for this bill to become law is April 1.
The bill recognizes Bitcoin as a method of payment but not currency. It has “asset-like values”, explains the largest bitcoin exchange by volume, Bitflyer. They are “usable as payment to indefinite parties for the cost of purchase or rent of items or receipt of services and which can be transferred by means of electronic data processing systems”, the exchange describes, adding that:
READ MORE >>> https://news.bitcoin.com/japan-bitcoin-method-payment-april-1/
In February, Bitcoin.com reported that the first Japanese bill containing digital currencies, recognizing Bitcoin as a method of payment, was expected to enter into force sometime in April. Last week, the Japanese Financial Services Agency (FSA) officially announced that the exact date for this bill to become law is April 1.
The bill recognizes Bitcoin as a method of payment but not currency. It has “asset-like values”, explains the largest bitcoin exchange by volume, Bitflyer. They are “usable as payment to indefinite parties for the cost of purchase or rent of items or receipt of services and which can be transferred by means of electronic data processing systems”, the exchange describes, adding that:
READ MORE >>> https://news.bitcoin.com/japan-bitcoin-method-payment-april-1/
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