Action from Government of Japan beginning on Mt. Gox.

DrApricot

full member

Activity: 238

Merit: 100

Gov't plan begins to take shape....

Quote

Japan has no laws regulating the virtual currency. With many lawmakers from both ruling and opposition parties arguing that bitcoins should be regulated, Abe's Liberal Democratic Party has set up a special committee to discuss the issue.

The committee has apparently concluded that the country should make use of the virtual currency to bolster foreign investment and business in Japan in an attempt to invigorate the economy, rather than excessively strengthening its surveillance to protect consumers.

http://www.globalpost.com/dispatch/news/kyodo-news-international/140513/japan-monitor-illegal-bitcoin-activity-put-regulatio-0

DrApricot

full member

Activity: 238

Merit: 100

Quote from: Nagle on February 25, 2014, 11:08:47 PM

Reuters: m/id/101446338]"Japan authorities looking into closure of Mt. Gox bitcoin exchange"

"At this stage the relevant financial authorities, the police, the Finance Ministry and others are gathering information on the case," Yoshihide Suga told a regular news conference when asked about Tuesday's shutdown of the Tokyo-based exchange.

That's a very high level for this to be handled at. Chief Cabinet Secretary Suga is second in command to the Prime Minister of Japan.
For Suga to make that statement is a huge deal. That will be interpreted at all the relevant ministries as "get to the bottom of this and fast".

You may trust that the Japanese government not only has a plan, but also a vision of how best to handle this Mt. Gox mess. The country knows exactly how to turn a liability into an asset--in this case a public relations black hole into a bonanza of positive press and attention in the international investment community.

Expect a uniquely Japanese approach that will pay huge dividends by encouraging the public to have confidence in the country as even more safe and secure than they now do.

The name of this game is investor attractiveness, and Prime Minister Abe's government knows full well how to make Japan into an investment destination of choice. A consensus among business and government leaders is forming to take affirmative action, and only the timing remains to be decided.

itsunderstood

sr. member

Activity: 364

Merit: 250

American1973

http://www.sugayoshihide.gr.jp/

Good man, he will tell Goxxies what has been done, and what the world can do.

WITH HONOR GOOD SIR, GO FORTH.

Nagle

legendary

Activity: 1204

Merit: 1002

Reuters: "Japan authorities looking into closure of Mt. Gox bitcoin exchange"

"At this stage the relevant financial authorities, the police, the Finance Ministry and others are gathering information on the case," Yoshihide Suga told a regular news conference when asked about Tuesday's shutdown of the Tokyo-based exchange.

That's a very high level for this to be handled at. Chief Cabinet Secretary Suga is second in command to the Prime Minister of Japan.
For Suga to make that statement is a huge deal. That will be interpreted at all the relevant ministries as "get to the bottom of this and fast".

Topic: Action from Government of Japan beginning on Mt. Gox. (Read 1016 times)