Topic: Japan to Call for Crypto Rules at the G20 Summit (Read 312 times)

Well Japan has been quite active in taking cryptos worldwide. They want that everyone should use cryptos but ofcourse with rules and regulation. They don't want any bans on cryptos and want it to be accepted as a legal tender. However G20 until now has been a bit varied with their opinion as what they want is to either let it roam freely or to completely bring in stingent measures to curb use of cryptos. i have not seen many countries sharing opinions with Japan.

Japan is one of the most advanced countries in the field of digital money. Therefore their initiative for me is quite understandable. I hope the efforts of the heads of states will be successful.

For the while, you can't say news is good or bad. I think countries have decided to bring out regulations for crypto currency, now these regulations will decide its future. Also, every country has its own point of view in the financial matter but for the while things seems to be good. Market is flourishing again and suggest a good up track in the coming days.

With the regulations the countries want to implement it means that we are going to lose the features that made bitcoins attractive in the first place. People will not be able to make purchase anonymously since they will be required to provide every details concerning to the exchanges who in turn will give to the governments.

whether this is the right thing to do, I want to know about the application of global rules about crypto as what will happen. because it involves global regulation, so all countries will accept the rule.

No bad news for crypto money at the g20 summit.İt is already the cause of the increase in the market is not the bad news of the G20.

Rules for cryptocurrency will be good as it will help to eliminate the possibility of a few people swaying the entire market to their favor. I don't know if anyone else has noticed but with cryptocurrency, insider trading will be much easier and harder to trace because there are no rules governing the market which basically means that anything goes. I just want them to accept cryptocurrencies, I don't mind rules.

Japan has always been very supportive with bitcoin and its really not surprising if they will push such adoption, besides cryptos has a really positive future that can help the economy to grow even better. I hope Japan will get the majority to support cryptos and help it to appreciate even better.

What good did you see in this news? You are told that you will be restricted in your freedom around the world. That's bad news for me. Governments want to subjugate the cryptocurrency. Do you see what happened to Fiat who lives by the rules of government? Do you want the same thing to happen with cryptocurrencies?

Let them handle this and we will see what's the result besides we can't do anything about it since we are only traders but we can do something about it if we found out that the result is not yet acceptable.

ah thanks god, for the good news
it realy nice when bitcoin is out of spreading with a good news
and when we comfort with a stabilze price, so much can we do with bitcoin when it come more normal

Japan has been in the forefront so far and from the look of things and how stuffs have turned out for them, I am sure they already know the impact it is going to be having positively and that is what is going to be pushed out to the other countries anyway. I am sure this is just the start and from the outcome of the meeting which I believe is going to be positive, it should usher in a new era for the world of cryptocurrency.

I am impressed with the japanese state, the country is fastest in accepting new technology, and the country is trying to introduce to other countries how to receive bitcoin with some rules they make so they can continue to closely monitor the use of bitcoin, I hope other countries can accept bitcoin as well as Japan,
quotes
"the trick will be to make sure to protect consumers and prevent illicit activity, without stifling innovation in the fast-growing cryptocurrency and fintech sectors".

THis is very interesting. what kind of regulation they will apply and will there be 'crypto tax havens' in the future

Well, as a reason to just move ahead generally, I would say it is not bad but for the fact that regulation is becoming a thing we have to just accept, I would just say we do not have any choice and I hope it does not end up with the governments trying to frustrate everything. However, it is a good thing and at least for us to just move on once and for all without the government breathing down our neck and raising FUDs, this would make some sense.

At least from what Japan has been able to achieve in a period of few months of regulation, I am sure they will have a lot to tender on why it would be a welcome development if they all embrace it rather than trying to fight it. Japan has taken the bold step already, and it is left for others to follow. I know a lot have been a bit skeptical with regulations, but at this stage, it is more like regulation or nothing and at least regulation will create more awareness.

Though the Japanese government has been perfectly fine with cryptocurrencies flourishing within their country, I doubt that the vote would unanimously be favoring crypto all throughout. The main talks would be about AML and KYC regulations, and it could stem out different other regulations that the participating representatives could think of, which could be beneficial for the users or would just disappoint us in the end. I hope the Japs would do their best to bring out fair regulations and present it nicely without the other countries nosing in for unfair taxation on crypto users' end. Whatever the result of the summit is, we'll learn in the next coming weeks.

This might make things for the better part of this year. Maybe not. It's a summit, things can go both ways. No one knows how finance ministers think about cryptocurrencies, if you really believe in media you're a bonehead. Global rules on cryptocurrencies, boy I cannot stop laughing. You seriously think countries would come together and implement these supposed rules on cryptocurrencies? You really think there's enough peace in this world for that? Lmfao.

Japan has been the perfect example of how countries should regulate the crypto market, and not see it as a threat, because it only becomes a threat once governments ignore how powerful crypto in its entirety is. I am sure that if they allow crypto to grow further naturally, but of course regulate the market in a fair and sustainable way, it will be beneficial to each and every party involved. I however am of believe that the majority of the crypto currencies will be outlawed at some point, and this is a great thing. It will only leave us with the top currencies, and knock off the 99% of the redundant crap coins that don't contribute to anything of useful nature. It's going to happen.

Probably good news. Japan is one of the most modern countries in the world, I dont think they are opposed to cryptos.

The main reason, which is voiced by the Japanese, is the fight against money laundering when using crypto currency. I think that in this regard, the call by Japan for the leaders of the G-20 to adopt general rules on crypto-currency is a positive news. However, we must not forget that each country pursues its own personal interests. This solution can be beneficial for the Japanese, as a way of regulating crypto-currency using a generally accepted solution.

Let it be as it is! At bitcoin, the whole point is that he can change the price for a year with 5 or 6 times, and in a position to make you a little richer or poorer, the only thing he does not have is a real fixed price, fixed, who will throw a bit of bitcoin , he will be right in a party

I think this is positive news and i really hope that what the Japanese representatives do in negotiating can generate positive responses or decisions in order to adopt a global rules on crypto to make them more aligned to crypto users.

For me, it is great news for the movement of cryptocurrency forward into mass adoption. Not sure how it will go and it may even go against cyrptocurrency but I'm still hopeful that it will find a lasting place in our economy.

I also very much want to believe that Japan will persuade the rest of the countries to adopt bitcoin. But to expect that this will happen very quickly - not worth it.

They cannot change what has been done bro and unless they start giving us the crap that all protocols of all the available market to be changed to become a centralized market, otherwise face the consequences, then I see no other way what you have said can play out which what I have said is not even going to be possible.

I am sure what is going to happen is just putting in place some regulations for ICOs, exchanges and some other stuffs but not changing the idea of decentralization.

So we have another FUD or is it the really true news for us to think upon it. Japan is already taking great moves the bitcoin and so far many of the commercial businesses has already accepted the bitcoin as mode of payment in Japan itself. If Japan really help this adoption to push to next level then I am sure bitcoin and other crypto currencies will be pumped to ATH which is going to be more than 20K for sure. Because global adoption will bring 5-10X more investors into the crypto world after this bill has passed. I think Japan will become first ever country to push the crypto currency in such great way and it will have most of the acceptance of crypto currencies. Thats a good news I believe.

Honestly, I am really not quite sure if I should be happy about this news or not since the aim of the japanese government is completely against the ideologies of satoshi nakamoto(team). Just think about it, bitcoins in the first place wanted to break the rules and chains that binds us to them and the japanese are pushing for global rules. I think it is something I wouldn't want to happen. But on the profit's side though, it is great since they are really trying to legalize bitcoins  which can be good for adoption and traffic. So even when I hate the rules, at least I can still go and take advantage.

That's another news to make people worried about the bitcoin and its future that too in the world where they are already suffering badly from the big drops. However this summit can either bring good news if they decide to accept the crypto currency conept or at least the way it works. If they decide to regulate it and make it more centralised then also it will be good news because at least people like Gox won't interfere with mass adoption of the bitcoin and the process will be more regulated thus making the bitcoin buys and sells very much controlled.

True.

Crypto will thrive within the next few years. Nowadays, large countries have introduced more stringent regulations in the Crypto market. This is the platform for the Crypto market, which is the first step in replacing the cash of altcoin in the near future. Let's buy and hold the potential altcoin and wait for a long time. Hope we will succeed.

Japan is actually very advanced and their progress in the adoption of the cryptocurrencies is actually fantastical. I also hope like most of us here that the future progress of the cryptocurrencies will be possible and that more regulation regarding security will be implemented.
I'm actually curious about this event which will for sure be revealing for the ones that still ain't acquainted with the cryptocurrencies.

Either way it's good for publicity. All these noise will help to expand another bull market for whole crypto space in a year and half or so.

Yeah  it's a welcome development that  a union of  countries are trying to minimize the risk of o  rypto currency, but if they will  change the true  character of bitcoins like  being decentralized and  anonymous  it seems  that they changing the real bitcoins into their own  currency.

It's positive news.

Japan is further advanced on crypto experience and crypto regulation than any other country. They are the ones who dealt with the MtGox collapse for example. So this is their big chance to shape international rules, simply because they have more hands on experience in this field than anyone else.

Seems like a wonder when Japan is the country that is standing up and trying to lay down the rules while getting other countries involved in the mix. This is going to make the air clear about 'regulating cryptocurrencies and countries would come down to a common agreement while pushing for a move towards making breathing room for the crypto market.

If this news is true this is good news for the world of cryptocurreny hopefully with the discussions of crypto in G20 Summit make crypto more popular by public and make more and more country that legalize cryptocurrency.

The digital cryptographic currency industry is booming in Japan, and the digital encryption economy is driving the development of Japan's economy.

They called for tighter regulation to promote better acceptance of digital cryptographic currencies by the international community.

I have mixed feelings about this move but after reading the article
and noting this line:

According to one of the Japanese officials quoted by Reuters,
“the trick will be to apply regulations to protect consumers and prevent
illicit activity, without stifling innovation in the fast-growing
cryptocurrency and fintech sectors”.

I am a little more positive than I was. We all know by now of Japans
positive relationship with crypto so we would like to think as per the
above extract that they want to see innovation and growth in the
sector.

Japan is the most technologically advanced country, but it is too small to be decisive. But her voice is very important to us. I hope that if the summit does not take a positive decision, Japan will unilaterally legalize the use of cryptocurrencies on its territory by citizens of other countries. This will give us the opportunity to use a Japanese stock exchange.

Yeah, really progressive I must say, with an impressive bold step from them. From the look of things and the assumptions that has been raised with the legalization and regulation of the cryptocurrency space leading to an increase in the GDP of Japan, that should be enough reason for any country to want to embrace the idea.

The G20 summit is just around the corner anyway, and like they always say in an adage; 'whoever the bride is being brought to, does not peep!' So we have time to wait and get to see the outcome.

It is very interesting what legal regulations they want to propose. I do not think that they want to ban crypto-currencies or to establish strict limits to their use, since Japan has a positive impact on their development.

Not sure whether the news is good or not, we just wait for clarification from related parties hopefully the positive effects of crypto in each country gets a clear legality, whether crypto will be set completely? or not? we just wait

The probability of this meeting will be the centralization of the crypto currency which will affect the anonymity and the volatility of it. This will be a bad omen for us because government will most probably want to control the flow of cryptocurrencies.

We cannot so sure about this news, and we cannot say if something good will happen but of course we want this kind of news to be true. Japan is one of the best place to use cryptocurrency, and this can also have a good impact on cryptomarket, I believe cryptocurrency will play a great role in our currency.

Japan has been the most progressive when it comes to adoption of bitcoin and cryptocurrencies.

I believe that they will be pushing for the regulations and ensuing adoption of bitcoins and cryptocurrencies.

This will be the good news that we are all waiting for.

The Japan did it because they concern for other countries that strict in cryptocurrency when it comes in regulation. I hope this event will change the other countries to be legal the cryptocurrency. And I think this is the good start for crypto.

Not certain if this is positive or negative news. It could be either. Japan has been content to live under the directives of the united states in the past and mirrored much of US economic policy. At the same time, japan has shown a will to become more independent. They recently built "helicopter destroyers" which are disguised pocket aircraft carriers capable of deploying fixed wing aircraft. This goes somewhat against terms of japan's surrender during World War II which prohibited them from building aircraft carriers. Germany likewise was prohibited from building many types of warships after World War I, which goes to show how ineffective those types of surrender terms can be.

There is a chance japan will echo the sentiments of central bankers with their anti crypto stance.

But there is also a chance japan will announce rules which protect the long term value of bitcoin as part of their recent independent streak. Guidelines which call for a cessation of trading on crypto exchanges if bitcoin's price declines by a certain amount could be implemented. Capital gains taxes or fees which encourage long term HODL rather than short term speculative daytrading could also be standardized to encourage long term value in bitcoin.

No matter how things pan out, we will know the answer soon enough.

Japanese representatives will push for the adoption of global rules on cryptocurrencies at the upcoming G20 meeting in Argentina. Next week, the summit will gather finance ministers and central bankers in Buenos Aires. Other countries also want to put crypto matters on the table, with signals coming from key members of the European Union.  

read for more updates here : https://news.bitcoin.com/japan-to-call-for-crypto-rules-at-the-g20-summit/