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Topic: Japan will not regulate Bitcoin ... yet - page 2. (Read 3408 times)

full member
Activity: 238
Merit: 100
June 23, 2014, 03:11:23 AM
#4
They will, have to, in the future Wink

Why? What regulation is necessary that doesn't already exist?
As mentioned previously, the Liberal Democratic Party under PM Abe, seems to see a future for bitcoin, particularly in fostering trade with the largely unbanked developing countries.

However, the opinion on bitcoin within the Japanese government appears to be split. They have also talked about taxing bitcoin transactions. That sounds like a recipe for destroying bitcoin.

For example, in order to finance the American Civil War, the Lincoln administration issued a fiat currency called "Greenbacks" (printed in green on one side) . At the time,  mainly different kinds of bank notes issued by a large number of state banks were in circulation. By assessing a 10% tax on all transactions using bank notes, Lincoln's Treasury Dept. successfully forced the state banks to stop issuing bank notes, as they became prohibitively expensive to use in transactions.

Taxation could have the same kind of negative effects on bitcoin.
sr. member
Activity: 274
Merit: 250
June 22, 2014, 11:07:50 PM
#3
They will, have to, in the future Wink

Why? What regulation is necessary that doesn't already exist?
sr. member
Activity: 392
Merit: 250
June 22, 2014, 07:35:27 AM
#2
They will, have to, in the future Wink
sr. member
Activity: 274
Merit: 250
June 19, 2014, 08:58:22 PM
#1
Looks like a smart move by the Japanse Government:

Quote
"Japan should become the world's easiest place to run Bitcoin businesses and for this reason we must avoid tying down the industry with regulation,"

Source:
http://online.wsj.com/articles/japan-ruling-party-to-hold-off-regulating-bitcoin-1403175537



No need for new / additional regulation. For those that were Goxxed, more regulation will not help. Only thorough research and forceful implementation of law that has existed for a very long time.  (THOU SHALL NOT STEAL)

Go JAPAN!

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