Japan considers making bitcoin a legal currency - page 3.

justspare

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Quote from: Slark on February 25, 2016, 12:52:04 PM

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 don't think that Bitcoin was ever banned in Japan. There is really no reason for Japan to make Bitcoin illegal. Satoshi sounds like a Japanese name to me.

extrabyte

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This is open new horizons for the betterment of bitcoins.
More Governments and instituion will follow this practice and soom
bitcoin will rule the world.

teddy5145

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Quote from: enhu on March 05, 2016, 03:25:25 AM

Cryptocurrencies aren't meant to be a national currency. it may never happen to any country that give importance to history like japan. Fiat money and important persons are in the fiat papers, would you want some Japanese emperor be on the bitcoin's logo?

You know Japan Tongue

They love to adopt and create a new technologies and test them out
If Bitcoin does work as national currency then other nation will try to adopt it too
If it's not then it will stay as Crpytocurreny as it is now
Let Japan test it and see how things turns out Wink

enhu

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Cryptocurrencies aren't meant to be a national currency. it may never happen to any country that give importance to history like japan. Fiat money and important persons are in the fiat papers, would you want some Japanese emperor be on the bitcoin's logo?

avikz

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It is really a welcoming step taken by Japan. If it happens, more investments will come to crypto currency market and the prices will increase. It will benefit the people involved in crypto currency market world wide.

The only sad part is that, it will be more regulated and taxed.

nichu

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you either recognize the bitcoin currency and legalize it and make money on tax returns or ignore it as fool . japan knows whats best for them and they are accepting it. soon enough more countries will understand what bitcoin nd crypto currencies are all about and they will accept it at a later time

Pursuer

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Where is my ring of blades...

all countries will do the same thing eventually. they kind of have to regulate all the cryptocurrency transactions since it is becoming more and more popular.
if I am not mistaken services that are located in US are already quite regulated. that was the reason why some of them got out of New York a while back, they had to pay taxes

teddy5145

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Quote from: RussianRaibow on March 04, 2016, 08:38:14 AM

Quote from: Patatas on February 26, 2016, 10:38:36 AM

So basically Japans wants to centralize bitcoin by regulating and controlling it ? Definitely not so good news for me.What difference does it make or separate it from the fiat anyway if its controlled ? Making bitcoin legal is just a fancy name for controlling and regulating it.

Yeah, I don't think it is good news either. I live in Japan, and bitcoin isn't illegal now. All "legalizing bitcoin" would mean is that they will tax and control it. I'm happy with the way it is now.

But if Japan becomes the pioneer of Bitcoin technology then we reached one of our goals as bitcoin user
"Making it as a common currency" Wink

Yes, there will be taxes, regulations, all other kind of stuff
But i guess we all know about that once we asked for bitcoin accepted as currency in a countries

Jemzx00

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Top Crypto Casino

Quote from: McDonalds5 on February 25, 2016, 12:39:15 PM

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.

This isn't a thing that i should be shocked about since ive been expecting this from the beginning since japan is an advance country especially when talking about technology..

ImnotOctopus

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Quote from: ShrykeZ on March 04, 2016, 06:28:28 PM

Pioneers of technology, of course they would decide this, Japan best! Cheesy

Yes they are one of the advance technologies and Intelegent. its good for bitcoin to spread there. but if they tighten Bitcoin's security it could harm bitcoin's anonimity.

eternalgloom

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I'm pretty happy with this news, it is true that this means that Bitcoin will be more regulated but it is the only way forward if Bitcoin is to become widely accepted.
This will certainly have a positive influence on the price in the future.

Blind Legs Parker

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Quote from: shintosai on March 01, 2016, 05:12:21 AM

as all know that japan is one of the rising country and has a good reputation in regards to technology, if japans thinking legalizing bitcoin it will be a good news even though there still pro's and con's about this condition but still for us we should expect for more people to us and familiarize using bitcoin. well keep tracking this thread thanks OP.

Japan is already a "risen country" Roll Eyes

and it's been so for about a century.
On the contrary, it's economy is now trending downwards, like the west's is.

Quote from: aardvark15 on March 04, 2016, 05:30:59 PM

It sounds like Japan wants to regulate bitcoin. In some ways it's a good sign that they may recognize the currency. However, bitcoin purist will probably say that any regulation is bad and is contrary to the point of crypto currencies that are designed to be outside of any regulation or government control.

If I'm not mistaken they are already regulating it and taxing people who buy bitcoins (as much as they can, of course). The talks are actually about stopping taxing it.

MFahad

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Eloncoin.org - Mars, here we come!

I wish USA and UK also acceptes the same

Greatoo

Hocapoca

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Not surprised Japan would open up more currency options for their economy. Land/rent/taxes high, as well as the collusion with big businesses there and bureaucrats.

xuan87

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Its a good news to bitcoin if this really happen, in other hand i really support Japan to tighten up the rules to catch and prevent bitcoin criminals,

but if tighten up the security will cause bitcoin anonimity to be exposed then i am not really agree

bamboylee

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Hey wait a minute, they are going to tax bitcoin? I love bitcoin because it is not taxed, now they are taking it away? But it is good if there will be more infrastructure and investments for bitcoin.

Yakamoto

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Quote from: Anddos on March 04, 2016, 05:35:15 PM

So what's the problem? That countries will start to adopt and recognize bitcoin? It will still be free on the internet.

The "problem" is that everyone fears that Japan is going to regulate the hell out of Bitcoin and make it a poor option for people living there, yet we haven't seen most of the legislation they're intent on passing. I'm fine with whatever they do, as it doesn't affect me, but I hope they do it right.

ShrykeZ

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Pioneers of technology, of course they would decide this, Japan best! Cheesy

Anddos

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So what's the problem? That countries will start to adopt and recognize bitcoin? It will still be free on the internet.

aardvark15

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It sounds like Japan wants to regulate bitcoin. In some ways it's a good sign that they may recognize the currency. However, bitcoin purist will probably say that any regulation is bad and is contrary to the point of crypto currencies that are designed to be outside of any regulation or government control.

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