Looks like Japan is on the forefront of cryptocurrency understanding and regulation
Sadly not so much on the forefront of apologizing for war crimes though
~CfA~
Topic: Japan considers making bitcoin a legal currency (Read 3228 times)
I hope the Japanese really makes bitcoin into something legal that other countries could follow, it will be very good when bitcoin legalized in every state
Japan is going to be the pioneer in the crypto currency world soon. and if they do this that would be the fuel to their jets to make them the lead country in this matter.
I really want to know how they manage to control the transactions(taxes purposes).
of course everybody and every country interesting about japan plan to regulate bitcoin,and this will make japan become role model for first country who do that,and i'm corious about that too,i wish its not hard to accept.It will not be surprise if Japan becomes first country in the world which fully accept Bitcoin as a legal currency.
This is very well developed country, specially in technology and obviously they have good foundation for Bitcoin.
How they will manage to control the transactions (taxes purposes)?
Well, why they should manage control over it?
Main purpose of Bitcoin is anonymity any way.
In many countries there is no tax on capital, only on earnings.
Japan can simple proclaim that there is no tax on Bitcoin but people have to report tax when they exchange Bitcoin to some other, hard currency and cash out on their bank accounts.
I really want to know how they manage to control the transactions(taxes purposes).
of course everybody and every country interesting about japan plan to regulate bitcoin,and this will make japan become role model for first country who do that,and i'm corious about that too,i wish its not hard to accept. Japan thinks way ahead than the rest of the world so it is indeed an welcoming move.
But my concern is that, what will happen to it's kyc policy??
is it required to submit kyc for transacting in bitcoin or they can continue being anonymous??
What about the taxes?
I am also thinking about this if bitcoin begin to be a legal currency .what about taxes and these anonymous transaction although they can still make it anonymous but not that to secured.But my concern is that, what will happen to it's kyc policy??
is it required to submit kyc for transacting in bitcoin or they can continue being anonymous??
What about the taxes?
Japan is also a small country but a big ahead when it comes to this kind of matter ,i am also thinking what china will do about it or they making plans also secretly.
Japan thinks way ahead than the rest of the world so it is indeed an welcoming move.
But my concern is that, what will happen to it's kyc policy??
is it required to submit kyc for transacting in bitcoin or they can continue being anonymous??
What about the taxes?
But my concern is that, what will happen to it's kyc policy??
is it required to submit kyc for transacting in bitcoin or they can continue being anonymous??
What about the taxes?
I really want to know how they manage to control the transactions(taxes purposes).
Title of the article is rather misleading, for normal bystanders it seems that bitcoin is now illegal or something and it will be legalized soon.
I am wondering what exactly japan bitcoin laws will be and if they will gonna regulate bitcoin with something like BitLicense.
I am wondering what exactly japan bitcoin laws will be and if they will gonna regulate bitcoin with something like BitLicense.
I agree. Bitcoin is not illegal for it to be legalized but putting it aside, what I like about it is that Bitcoin will be more regulated.
i'm curious to know how they are going to track all the other crapcoin out there especially those with high anonimity, even bitcoin would not be easy
let alone all the clone of monero, they won't be able to tax them properly, ever...
let alone all the clone of monero, they won't be able to tax them properly, ever...
It would be simple, thing is without enuff capital invest
a craps coin dosnt really exist anyway
That would be cool if Japan would consider bitcoin and other cryptocurrency as a real currency, but I hope they won't intervene in its process right now and how it run, I think government wants to regulate it and put taxes in it..
Japan is a country with a good reputation. I hope other countries in the region will follow and grap this chance to make it legal too. This way other maybe western countries
will follow which will give bitcoin an enormous boost.
The development of the Japanese economy can also be an important factor in the resolution of regulatory authorities, as the country does not want to miss the opportunity to create new jobs and economic opportunities skip achieved finteha burgeoning industry worldwide. These new capabilities will allow banks to consolidate the assets and management of the financial system more easily, and improve business performance.
Cryptocurrency exchanges will be required to register with the Financial Services Agency, which acts as a regulatory body. Payments may be made cryptocurrency without having fiatnuyu conversion currency. This means that in the near future may become Bitcoin accepted form of payments for banks, large corporations and service providers.
Japan is an advanced country technologically advanced, and I think many countries will take off her example.
Cryptocurrency exchanges will be required to register with the Financial Services Agency, which acts as a regulatory body. Payments may be made cryptocurrency without having fiatnuyu conversion currency. This means that in the near future may become Bitcoin accepted form of payments for banks, large corporations and service providers.
Japan is an advanced country technologically advanced, and I think many countries will take off her example.
Japan is moving in the right way at my opinion, bitcoin is not bad currency and we all know it, but in many coutries it's illegal and you can't even use it. So weird.
So how much longer before Toranoana and other such stores start offering Bitcoin payment options? Japan has a unique market for a lot of stuff inhabiting a, "grey area", in most other developed countries, so it would be very interesting to have a less conventional payment option for a lot of things...
Wait, something changed and we have situation update? Some Japanese bitcoin legislation is been voted now?
Because I sure expect something more development considering that this news is from February.
Or we necroing this thread just to comment that Japanese view of bitcoin is amazingly progressive?
Because I sure expect something more development considering that this news is from February.
Or we necroing this thread just to comment that Japanese view of bitcoin is amazingly progressive?
Lets see how this will work out.
It has got higher acceptance among the country people so possibility to make it get legalized is high. Also china is doing a study to implement their own digital currency to regulate within China. This makes the first to adopt digital currency use.
Lets see how this will work out.
http://www.theguardian.com/technology/2016/feb/25/japan-to-make-bitcoin-legal-currency
Japan’s governing Liberal Democratic party is planning to propose legal changes that would define bitcoin and other cryptocurrencies as currencies.
The changes would mean bitcoin could be more tightly regulated and taxed, and are likely to lead to more investment in developing cryptocurrency infrastructure in Japan.
Tomonori Kanda, an official in the financial affairs section at the party’s headquarters, said legislative changes were discussed on Wednesday and the LDP aimed to raise the matter in parliament.
“There is a long way to go,” he said. “But we have discussed reform and believe it is the right way to go.” The timing of the change was yet to be decided, he said.
Japan’s governing Liberal Democratic party is planning to propose legal changes that would define bitcoin and other cryptocurrencies as currencies.
The changes would mean bitcoin could be more tightly regulated and taxed, and are likely to lead to more investment in developing cryptocurrency infrastructure in Japan.
Tomonori Kanda, an official in the financial affairs section at the party’s headquarters, said legislative changes were discussed on Wednesday and the LDP aimed to raise the matter in parliament.
“There is a long way to go,” he said. “But we have discussed reform and believe it is the right way to go.” The timing of the change was yet to be decided, he said.
Good news,i own the domain XBT.TOKYO i can sell it or i can find a partner to build an exchange for Japan there.
Bitcoin as to be legalize? that's good on my part you can bring your bitcoin everywhere in japan and it will make it easier for everyone. But the main point when it became legal it will have taxes. How much taxes they will put on it? We are happy and freely move bitcoins because we don't have taxes on it. Just a fee when we buy and cash it out, as of know we are ok on this setup but soon governments will take part on it for there extra benefits.
http://www.theguardian.com/technology/2016/feb/25/japan-to-make-bitcoin-legal-currency
Japan’s governing Liberal Democratic party is planning to propose legal changes that would define bitcoin and other cryptocurrencies as currencies.
The changes would mean bitcoin could be more tightly regulated and taxed, and are likely to lead to more investment in developing cryptocurrency infrastructure in Japan.
Tomonori Kanda, an official in the financial affairs section at the party’s headquarters, said legislative changes were discussed on Wednesday and the LDP aimed to raise the matter in parliament.
“There is a long way to go,” he said. “But we have discussed reform and believe it is the right way to go.” The timing of the change was yet to be decided, he said.
If japan considers making bitcoin a legal currency its a good news because many japanese that have interest here if they knew that this coin is consider by japan that making bitcoin a legal currency so if many japanese have interest here theres a chance that they use it as they online currency. Japan’s governing Liberal Democratic party is planning to propose legal changes that would define bitcoin and other cryptocurrencies as currencies.
The changes would mean bitcoin could be more tightly regulated and taxed, and are likely to lead to more investment in developing cryptocurrency infrastructure in Japan.
Tomonori Kanda, an official in the financial affairs section at the party’s headquarters, said legislative changes were discussed on Wednesday and the LDP aimed to raise the matter in parliament.
“There is a long way to go,” he said. “But we have discussed reform and believe it is the right way to go.” The timing of the change was yet to be decided, he said.
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