Japan Approves Self-Regulation for Cryptocurrency Industry - page 3.

Naida_BR

member

Activity: 980

Merit: 62

Quote from: Drysprinkles291 on November 11, 2018, 04:51:54 PM

Japan’s primary financial regulator has formally granted the cryptocurrency industry with a self-regulatory status by allowing an industry body to police domestic exchanges. With the acquisition of the accreditation, they'll continue to make further efforts to create an industry that people can trust from everyone who uses virtual currency with members exchanges. Do you think we'll see this happening in other countries anytime soon?

These innovative changes usually come from Asia, as this time again. I really hope that we will see in the near future in other countries bodies like this one. Taking this into account, people will start trusting cryptocurrencies more because it can be noticed now that there is a huge gap due to the "war" that Financial institutions make to Bitcoin and other cryptos.
Maybe Japan can start promoting such pacts with other countries in a form of trading agreements.

basyang

full member

Activity: 644

Merit: 100

Quote from: Drysprinkles291 on November 11, 2018, 04:51:54 PM

Japan’s primary financial regulator has formally granted the cryptocurrency industry with a self-regulatory status by allowing an industry body to police domestic exchanges. With the acquisition of the accreditation, they'll continue to make further efforts to create an industry that people can trust from everyone who uses virtual currency with members exchanges. Do you think we'll see this happening in other countries anytime soon?

We, this is one of an informative topic here in the community. For me, Japan is an open-minded when it comes to innovation. Sometimes they are number one who accepted some digital things. They are also advanced in robotics or any things when it comes to technology thats why their country is well developed amd many high tech things was invented in their country.

ufaiz50

hero member

Activity: 1666

Merit: 502

Quote from: Drysprinkles291 on November 11, 2018, 04:51:54 PM

Japan’s primary financial regulator has formally granted the cryptocurrency industry with a self-regulatory status by allowing an industry body to police domestic exchanges. With the acquisition of the accreditation, they'll continue to make further efforts to create an industry that people can trust from everyone who uses virtual currency with members exchanges. Do you think we'll see this happening in other countries anytime soon?

I was a little hesitant and was surprised they entrusted self-regulation considering that many ordinary people saw bitcoin as a criminal tool, although, I'm quite happy there are countries that strongly believe in cryptocurrency. Other countries that follow to approve self-regulation I don't think there is and in my opinion India is the closest to cryptocurrency other than Japan, while news says that India is very strict in terms of regulating crypto.

Kakmakr

legendary

Activity: 3542

Merit: 1965

Leading Crypto Sports Betting & Casino Platform

The Japanese government is a lot more open-minded than most of the other countries in the world. They were the first government to accept Bitcoin as a currency, when other countries defined Bitcoin as a commodity.

Now they approve self-regulation with a currency that has the potential to be used for money laundering and also criminal activities and capital flight. We should applaud them for this and support them in this endeavor. Create mechanisms that would help to prevent this and also counter measures to catch the criminals that misuse this technology. Angry

Kevin77

legendary

Activity: 1652

Merit: 1057

Quote from: omonuyak on December 29, 2018, 07:03:05 PM

we may not see this happening in another countriessoonest but this is a great developments and that is how it ought to be. Japanese traders and investors are the one that makes bitcoin grow in 2017 and I think they are about to do the samething in 2019.

I guess many countries have already started to study on this self-regulation as most of them are deliberately looking for what kind of regulation they are able to put on this crypto currencies space as this industry looks like beyond any control. I'm expecting a big success from this Japan's initiative so that other countries will be following it. I like this self-regulation as it will be ensuring the basics of decentralization is as far as I have understood.

Quote from: omonuyak on December 29, 2018, 07:03:05 PM

Remember that Japan economics also grow in 2017 because of cryptocurrencies market and give self regulations is an indication that cryptocurrencies is here to stay!

Yes, that is now the case study for many European countries and they are all working on that. Crypto currencies are going to stay with us for sure but the question is how easily that is going to be. But, when seeing how Japan kind of countries are doing, I guess bitcoin may get into mainstream more smoother than we could imagine.

btc_angela

hero member

Activity: 2660

Merit: 551

Quote from: tetyulfania on December 29, 2018, 11:54:42 PM

Japan is the best country always support of bitcoin, maybe we are still remember when Chinese banned for using bitcoin as transaction payment, but only Japan want to allow bitcoin as transaction payment.

Of course they're the number bitcoin friendly since China made its U-turn. What made Japan stand out is their willingness to experiment things and even we have heard exchanges being hack in Japan, you can see the owners are willing to compensate them unlike other exchanges. So this news is very welcoming indeed and one step of the game or even a game changer decision by the Japanese government.

tetyulfania

member

Activity: 653

Merit: 10

Japan is the best country always support of bitcoin, maybe we are still remember when Chinese banned for using bitcoin as transaction payment, but only Japan want to allow bitcoin as transaction payment.

omonuyak

sr. member

Activity: 882

Merit: 269

Quote from: Drysprinkles291 on November 11, 2018, 04:51:54 PM

Japan’s primary financial regulator has formally granted the cryptocurrency industry with a self-regulatory status by allowing an industry body to police domestic exchanges. With the acquisition of the accreditation, they'll continue to make further efforts to create an industry that people can trust from everyone who uses virtual currency with members exchanges. Do you think we'll see this happening in other countries anytime soon?

we may not see this happening in another countriessoonest but this is a great developments and that is how it ought to be. Japanese traders and investors are the one that makes bitcoin grow in 2017 and I think they are about to do the samething in 2019. Remember that Japan economics also grow in 2017 because of cryptocurrencies market and give self regulations is an indication that cryptocurrencies is here to stay!

Siti Nurbaya

jr. member

Activity: 490

Merit: 1

Japan is one of the pioneers of bitcoin, so it's not surprising to agree to crypto settings.
Japan is a developed country with high technology and a smart society so the crypto industry can easily expand widely.

TheClownSong

sr. member

Activity: 1428

Merit: 251

Quote from: Drysprinkles291 on November 11, 2018, 04:51:54 PM

Japan’s primary financial regulator has formally granted the cryptocurrency industry with a self-regulatory status by allowing an industry body to police domestic exchanges. With the acquisition of the accreditation, they'll continue to make further efforts to create an industry that people can trust from everyone who uses virtual currency with members exchanges. Do you think we'll see this happening in other countries anytime soon?

I think its good news but in others side, government should involved when creating regulation. Government needed to protect investor money because in many country cryptocurrency still unregulated. We saw many scam ICOs this year and many investor lossing their money

Biscutard

full member

Activity: 759

Merit: 105

Quote from: yusupjatigumilar on December 28, 2018, 05:24:10 PM

Japan is one of the most influential countries in the world industry, I hope that Japan's current policy can encourage other countries to follow the policy, because if all countries can adopt policies like Japan then it is not impossible that crypto currencies will grow more significantly because of the increased trust of the community and SCAM actions I think it can also be more monitored

This is just another step of Japan to become top of the list of most influential countries when we talk about cryptocurrency. Japan is always open for a new trend of technology where most of them are too hungry for new knowledge since they were on the top most of the world right now. But their knowledge seems to not yet contented due to the people's satisfaction.

yusupjatigumilar

full member

Activity: 644

Merit: 100

Japan is one of the most influential countries in the world industry, I hope that Japan's current policy can encourage other countries to follow the policy, because if all countries can adopt policies like Japan then it is not impossible that crypto currencies will grow more significantly because of the increased trust of the community and SCAM actions I think it can also be more monitored

cizatext

member

Activity: 952

Merit: 41

That is a great moves in the side of Japan to established a self regulatory cryptocurrency industry that will operate within a regulatory framework, and to see other countries adopting this kin of move will future strengthen the adoption of cryptocurrency and boost the confidence of the people to option into using cryptocurrency as their secondary currency.

Gibreil

member

Activity: 805

Merit: 26

Quote from: mcTether on November 11, 2018, 05:07:26 PM

Quote from: Drysprinkles291 on November 11, 2018, 04:51:54 PM

Japan’s primary financial regulator has formally granted the cryptocurrency industry with a self-regulatory status by allowing an industry body to police domestic exchanges. With the acquisition of the accreditation, they'll continue to make further efforts to create an industry that people can trust from everyone who uses virtual currency with members exchanges. Do you think we'll see this happening in other countries anytime soon?

This is very interesting. I also think it is the best thing for the cryptocurrency. I believe this decision taken in Japan will limit the government's direct influence or control in the country while still ensuring that their is a regulation. This similar arrangement should also be implemented in other jurisdictions.

We should not believe easily to the news we saw in this forum. Some of the news have no basis and we know that those no basis can only be an opinion. It is not a fact coming from Japan unless otherwise it publish by legit media like CNN. Japan is an industrialized country and they want some innovation like cryptocurrency

xIIImaL

legendary

Activity: 1372

Merit: 1005

Quote from: Caelanpelley on November 15, 2018, 10:34:32 AM

Japan is the world's leading developer of electronic money. The country accepts electronic payments in daily transactions. So Japan's acceptance of self-regulation for the electronics industry is coming to an end sooner or later. In other countries this will be slower.

Japan is crypto supporting country so they accept everything in this crypto platform. But other countries are discussing the different manner in crypto so economic development is major role in all the crypto regulation peoples are said in Bitcoin is always unique and individual so we should buy more crypto in today market.

jack8989

member

Activity: 331

Merit: 10

StartFi

Quote from: Drysprinkles291 on November 11, 2018, 04:51:54 PM

Japan’s primary financial regulator has formally granted the cryptocurrency industry with a self-regulatory status by allowing an industry body to police domestic exchanges. With the acquisition of the accreditation, they'll continue to make further efforts to create an industry that people can trust from everyone who uses virtual currency with members exchanges. Do you think we'll see this happening in other countries anytime soon?

I think they will not be able to do anything besides being whacked by the whales. We are currently being oppressed and unable to resist. Its capitalization is too big and it can do everything. Japanese should think of ways to prevent manipulation before entering this market.

fauzan Ichsan

full member

Activity: 1246

Merit: 102

Enterapp Pre-Sale Live - bit.ly/3UrMCWI

Quote from: Caelanpelley on November 15, 2018, 10:34:32 AM

Japan is the world's leading developer of electronic money. The country accepts electronic payments in daily transactions. So Japan's acceptance of self-regulation for the electronics industry is coming to an end sooner or later. In other countries this will be slower.

indeed, Japan will do everything to make cryptocurrency develop including selt-regulation in the industrial world. Japanese government policies certainly always support the development of crypto

Caelanpelley

sr. member

Activity: 602

Merit: 250

Japan is the world's leading developer of electronic money. The country accepts electronic payments in daily transactions. So Japan's acceptance of self-regulation for the electronics industry is coming to an end sooner or later. In other countries this will be slower.

DAVETUN

full member

Activity: 728

Merit: 101

Bitcoin is the currency of this age

Japan is a developed nation technologically, they tends to dictate the next move in technological advancement to other countries, with an approval of self regulations for cryptocurrency, it will sure increase the number of investors in the community as it is obvious that government in Japan will not ban cryptocurrency.

Cocesstraable

newbie

Activity: 37

Merit: 0

Quote from: tomahawk9 on November 11, 2018, 07:39:53 PM

Japan proving once again why they'll become the real cryptocurrency mecca in the future. Good for the govt to give the crypto industry in the country have more autonomy so that it continues to grow without too much hassle.

Quote from: Drysprinkles291 on November 11, 2018, 04:51:54 PM

Do you think we'll see this happening in other countries anytime soon?

It depends on whether this proves to be a succesful aproach from the govt or not (from an economic point of view, since all the govt around want is money). I can see this happening in countries actively showing their pro-crypto stance, like some countries in Europe or even South Korea.

That is always the thing with having visionary leaders. They are always smart enough to see things people could not see and in that way, they are always able to take the bold brilliant step in setting the space. This is indeed a very brilliant idea, which I believe will really end up flying big time and even help in the development of the space within that territory.

It is always a good thing to have a body that will regulate itself and then we will be able to see it get even more interesting as people tend to follow certain rules and then no compromise in a way at all.

Topic: Japan Approves Self-Regulation for Cryptocurrency Industry - page 3. (Read 16901 times)