Topic: Japan just gave its cryptocurrency industry legal power to police itself (Read 685 times)
December 08, 2018, 12:05:54 PM
To be honest, in my opinion there is still a lot of potential to dig by Bitcoin, especially for the company benefit which usually includes a lot of fields and various complex. In blockchain, there are a lot of things that can be used for the benefit of the company, for example, inventory. Good luck by the way.
November 06, 2018, 09:12:40 AM
Japan is going in the right direction in terms of steps need to take for the protection of their crypto investors
November 05, 2018, 10:45:28 PM
i think its a good move from japan govt.these changes will boost bitcoin and i can see japan is really a crypto user frndly country who supporting crypto and its technology.at last i will congrats to japans crypto community its your victory.
While it's good to see Japan has decided to give the power to the people who actually know the industry, it's too early to say will the regulations help the adoption of bitcoins in the country. It's pertinent to note that these regulations will definitely make the exchanges safe, but I'm not sure how they'll prevent fraudulent transactions which is a menace, and if they're able to successfully implement it I'm sure other countries shall follow suit.
November 05, 2018, 10:32:55 PM
Other countries should learn from Japan, whether it be in crypto related matters or otherwise. This country is ahead of the world.
November 05, 2018, 10:24:38 PM
Japan is able to overcome and provide good policies about crypto and this is an example of the policy for other countries. Japan is indeed a country that is capable of carrying out this system and this can provide comfort to its users.
November 05, 2018, 08:18:03 PM
With rules such as these being implemented we could hope to see a lot of growth for cryptocurrency. Japan would set a standard or ideals for the parameters around everything cryptocurrency and rules regulating it which if successful, a lot of other countries would try to adopt it with their way of thinking included and thus could possibly be potentially growth for the future of global awareness.
of course Japan is an example for other countries because if we look at the economy and technological advancements in Japan that are already very advanced, we can be sure that the Japanese have realized the importance of digital currencies that are global in nature, so that it can be a standardization of bitcoin currencies. November 05, 2018, 08:12:25 PM
In my opinion Japan is the most open country with bitcoin among the countries I know, I mean it would be great to come to Japan to invest there.
November 05, 2018, 07:43:29 PM
With rules such as these being implemented we could hope to see a lot of growth for cryptocurrency. Japan would set a standard or ideals for the parameters around everything cryptocurrency and rules regulating it which if successful, a lot of other countries would try to adopt it with their way of thinking included and thus could possibly be potentially growth for the future of global awareness.
I completely agree. If Japan can regulate crypto successfully, then so can other countries. Having Japan lead the way towards our digital future, can be beneficial. Someone has to start, right?
November 03, 2018, 03:06:38 PM
I agree with you on this, I believe that investors in Japan will accept it. This is necessary when the use of bitcoin for money laundering is increasing in Japan. The presence of this organization also protects the interests of bitcoin users. Hopefully this organization will soon be established.
November 03, 2018, 02:46:13 PM
i think its a good move from japan govt.these changes will boost bitcoin and i can see japan is really a crypto user frndly country who supporting crypto and its technology.at last i will congrats to japans crypto community its your victory.
November 03, 2018, 02:42:29 PM
I think American cryptocurrency exchanges should seriously consider self-regulating as well. It’s a very fast-moving industry. It’s better for experts to make rules in a timely manner than bureaucrats do for sure.
November 03, 2018, 02:25:47 PM
Even though the government refused but it’s strange if they did not learn what they rejected, this means they fooled the people who supporting it. They should understand this and because of that they deliberately reject the crypto, in other words they reject with clear intentions, also not necessarily for the public interest.
November 01, 2018, 03:36:48 AM
I love the news coming from both Japan and Germany recently. I am sure that this unique power given to the cryptocurrency industry by Japan will enhance performance and I am sure some countries will also copy this idea.
November 01, 2018, 12:20:22 AM
Yes, its a better way to keep the norms making in the hands of crypto space users.But i feel many countries should move in this direction and ensure regulations and rules are in place for usage of crypto across the globe.This is also mandatory for other countries to become a part of this cause and move ahead in the same direction to get some new vision for their economies.
November 01, 2018, 12:03:33 AM
this is a good move by Japan and like you rightly said, if it is successful other countries will do the same. I believe we will continue to see countries adopt and use cryptocurrencies and make it convenient for their citizens to use as well.
October 31, 2018, 11:04:46 PM
The cryptocurrency scene is evolving too quickly for policymakers to keep up - well that’s the rationale behind a move by Japan to officially let thee industry create and enforce its own rules. If the approach works, it is likely that other not-do-forward-in-the-crypto-world nations will also test it. Apparently "Japan’s Financial Services Agency has granted the Japan Virtual Currency Exchange Association, a self-regulatory organization made up of representatives from cryptocurrency exchanges, authority to create rules aimed at protecting consumers, preventing money laundering, and standardizing how exchanges should operate. The agency also gets the power to sanction exchanges for breaking those rules, reports Reuters." Opinions on this? Will it be successful or fail miserably, or something in between? Will others follow soon?
I found information regarding this in a Technology Review article : https://www.technologyreview.com/the-download/612347/japan-just-gave-its-cryptocurrency-industry-legal-power-to-police-itself/
I found information regarding this in a Technology Review article : https://www.technologyreview.com/the-download/612347/japan-just-gave-its-cryptocurrency-industry-legal-power-to-police-itself/
Well done! That's a great work done by Japan. It will be successful and very soon Japan will set an example for others to take up some major and perfect step like this.
October 31, 2018, 10:07:46 PM
It's a great news and surely will improve the fradlents and hacking of wallets in the industry.
They may be able to weed out exchanges looking to scam, but the power to enforce that may also be abused to kill competitors.
I honestly don't think regulations can completely prevent hackings. Security can probably be improved by enforcing strict protocols that make it hard to pull off inside jobs, but there's really not much that can be done against external threats. We don't even know how hackings take place because they rarely publicize the information.
Either way, this is a victory for the Japanese crypto community. If nothing else, this implies that state regulators will be easing their foot off the gas a little.
October 31, 2018, 08:23:59 PM
These changes are the efforts of the Japanese government to help boost the bitcoin growth. This may change the perception of the governments of other countries, so that bitcoin can be completely accepted extensively throughout the world
October 31, 2018, 06:59:08 PM
Most of the Asia countries, excluding China, are crypto friendly and Japan is one of the best places to use crypto and its regulation will become this market better and safer for everyone
Japan and Korea are the best cryptocurrency places to grow
and then Singapore and Indonesia
sooner or later this trend will spread to various countries
until all countries legalize cryptocurrency
slow but sure
October 31, 2018, 05:05:25 PM
I have divided feelings on this matter.
On one hand , yes it is correct action since classical agencies often do not know what to do with crypto.
On other hand, lets hope that they will be efficient and honest association.
On one hand , yes it is correct action since classical agencies often do not know what to do with crypto.
On other hand, lets hope that they will be efficient and honest association.
Well knowing the japanese, i think you won't have much problems with your second concern since it's in their culture to put high importance in integrity. Once again japan is spearheading something that would probably be adopted in the near future.
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