When a country by legalizing cryptocurrency has good news, it will have a big effect on global prices. This Japan News is a big contribution to making bitcoin prices more increased.
Topic: Good news or bad news... - page 13. (Read 3325 times)
Japanese Ministry of Finance is going to prepare rules for cross-border transfers of digital money
The Ministry of Finance of Japan is going to prepare in the near future rules for the foreign transfer of digital money.
According to the report of the newspaper Nihon Keizai on April 5, the Ministry of Finance plans to introduce rules under which notice to the authorities should be strictly mandatory if the cost of transferring money for a foreign transfer is more than 30 million yen.
It is said that the decision of the Ministry of Finance will facilitate the consideration of the real situation with operations abroad and is designed to curb money laundering operations.
Source: Alpari
The Ministry of Finance of Japan is going to prepare in the near future rules for the foreign transfer of digital money.
According to the report of the newspaper Nihon Keizai on April 5, the Ministry of Finance plans to introduce rules under which notice to the authorities should be strictly mandatory if the cost of transferring money for a foreign transfer is more than 30 million yen.
It is said that the decision of the Ministry of Finance will facilitate the consideration of the real situation with operations abroad and is designed to curb money laundering operations.
Source: Alpari
You should really link tot the article not just saying who the source is.
But how are they going to enforce this?
If you send BTC to a foreign exchange that requires AML and KYC it's pretty simple to track down but if they just transfer to somebody else it's nearly impossible.
Also, this limit which is something like 200k euros, is per transfer? Per year?
Too many questions and too little information
But still this news shows that Japan too has realised that it could not avoid cryptos totally.
It is the responsibility of the government to control the financial aspects of a country. Japan's Finance Ministry is going to make a lawsuit regarding digital currency transfer, I think this is a good step.
This is obviously good news, its purpose is to prevent criminals from committing money laundering and misuse that can harm others.
please include the link for more details. thanks.
please include the link for more details. thanks.
I would say this is a good news for us as the government is willing to recognize the centralized digital payment systems and we can always amend the rules and regulations as per the situation but as a first step, we need the recognition so that corporate houses can use cryptocurrencies without any issues. According to the news reports, the Indian government is planning to implement taxation for digital payments but nothing is clear yet and there is a lot of misunderstanding between the departments and central bank.
It is very positive news for Japan. Ultimately, they must determine the limits and level of money flow in the country. It's under their control. It may be bad for the investors, but it is better than never.
it didn't make good news and didn't make bad news for me, because I am not a Japanese citizen. maybe that could be bad news for Japanese citizens who use cryptocurrency, because it will incur additional charges for transactions to the authorities. but certainly the Japanese government has a good reason why there is such a new policy.
You must include a news link in your thread.
in my opinion it is good news, because that means bitcoin circulation has rules. rules must be made so that the movement of bitcoins can be controlled.
in my opinion it is good news, because that means bitcoin circulation has rules. rules must be made so that the movement of bitcoins can be controlled.
this is good news, i think Japanese government is increasingly paying attention to the development of cryptocurrency, so anticipated money laundering can anticipated from anonymous nature
Cryptocurrency was not made in future to favor governments regulatory authority and because of this we should not think that they are going to fold there hand and not fighting it. Bitcoin and blockchain technology in future is going to take job from the man's hand and didn't think he would be happy for that, therefore, he is fighting with all his strength to keep his job. Not only him but including the government officials, bankers and financial analyst are going to be against bitcoin.
Many trying to let bitcoin down especially this year , but bitcoin is somehow we can't resist now as it is part of the innovation in technology that we find ease and as a bank who let us earn and save at the same time. The battle will always be present in it.Well there are some experts who express really good feedback for the blockchain technology that backs crypto but not bitcoin. Though there are as much number of experts who think that bitcoin is here to stay along with other coins in crypto. Personally i'd vouch for the latter. Bitcoin will always be remebered as the one that put blockchain to people's consciousness. We may be down for now, but we still have a lot of room for growth in the coming years and we will grow.
cryptocurrency field won't stabilize until governments put laws on using it ( to prevent money laundering and scam people ) . only then we can see green market again.
Japanese Ministry of Finance is going to prepare rules for cross-border transfers of digital money
The Ministry of Finance of Japan is going to prepare in the near future rules for the foreign transfer of digital money.
According to the report of the newspaper Nihon Keizai on April 5, the Ministry of Finance plans to introduce rules under which notice to the authorities should be strictly mandatory if the cost of transferring money for a foreign transfer is more than 30 million yen.
It is said that the decision of the Ministry of Finance will facilitate the consideration of the real situation with operations abroad and is designed to curb money laundering operations.
Source: Alpari
The Ministry of Finance of Japan is going to prepare in the near future rules for the foreign transfer of digital money.
According to the report of the newspaper Nihon Keizai on April 5, the Ministry of Finance plans to introduce rules under which notice to the authorities should be strictly mandatory if the cost of transferring money for a foreign transfer is more than 30 million yen.
It is said that the decision of the Ministry of Finance will facilitate the consideration of the real situation with operations abroad and is designed to curb money laundering operations.
Source: Alpari
I think it is a good news. Japanese government makes the right rule to prevent money laundering or misuse of money for the benefit of the bad guys or illegal activities. So, It will effects the market.
Cryptocurrency was not made in future to favor governments regulatory authority and because of this we should not think that they are going to fold there hand and not fighting it. Bitcoin and blockchain technology in future is going to take job from the man's hand and didn't think he would be happy for that, therefore, he is fighting with all his strength to keep his job. Not only him but including the government officials, bankers and financial analyst are going to be against bitcoin.
Many trying to let bitcoin down especially this year , but bitcoin is somehow we can't resist now as it is part of the innovation in technology that we find ease and as a bank who let us earn and save at the same time. The battle will always be present in it.
This is a great news, the Japanese are very wise and smart in welcoming crypto currencies to their country and their people at the same time they are implementing rules strict rules and regulations to avoid those who will be using it for bad or illegal activities. No wonder, Japan is a great and successful country, they make sure that they are maximizing the good things Bitcoin can bring at the same time, protecting their people from those who can use it for bad things.
I agree this is good news. Japanese government makes the right rule to prevent money laundering or misuse of money for the benefit of the bad guys
A connection will really be exceptionally fitting to have the capacity to peruse the full news on the grounds that everything the OP has put here isn't generally including. Considering I can choose to manage without a trade on the off chance that I wish, on the off chance that I am completing a remote exchange, how does the administration intend to screen all these .Everything here from my own particular idea might be constrained to the utilization of trades, and it isn't generally a terrible news to the extent I am worried, since at any rate it would assist on account of illegal tax avoidance. I figure we are welcome to the universe of direction.
Cryptocurrency was not made in future to favor governments regulatory authority and because of this we should not think that they are going to fold there hand and not fighting it. Bitcoin and blockchain technology in future is going to take job from the man's hand and didn't think he would be happy for that, therefore, he is fighting with all his strength to keep his job. Not only him but including the government officials, bankers and financial analyst are going to be against bitcoin.
I cannot totally say if it is a bad news or good news. It will be interesting to see how the Japanese experiment evolves. The government has indicated that it will force bitcoin exchanges to be on the lookout for criminal activity and to collect information on deposit holders. Still, one can be sure that global tax evaders will seek ways to acquire bitcoin anonymously abroad and then launder their money through Japanese accounts. Carrying paper currency in and out of a country is a major cost for tax evaders and criminals; by embracing virtual currencies, Japan risks becoming a Switzerland like tax haven with the bank secrecy laws baked into the technology.
Maybe this will slightly affect the circulation of crypto but may not have an effect on the price. If this becomes an influence it will have a huge impact given Japan also is a great State if talks about crypto.
every country if you want to make the latest rules must have been in mind well.
so I think this is good news for the Japanese government but there is a bad effect as well here, I think the standard transfer should be lowered again because such funds are too big.
so I think this is good news for the Japanese government but there is a bad effect as well here, I think the standard transfer should be lowered again because such funds are too big.
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