Bitcoin Forum

Japanese banks are set for embracing Bitcoin after proposed new laws. Has Bitcoin finally come of age in the land of the rising sun?
Japan has just given virtual currencies legitimacy, something that many other nations are still struggling to come to terms with.

Check out the full article here : http://cointelegraph.com/news/japan-officially-recognizes-bitcoin-and-digital-currencies-as-money

It's good that it's starting to get a little more recognition beyond just being seen as a black market currency.

It is a great move for Japan! Bitcoin in Hong Kong is doing great as well, where bitcoin can be easily exchanged through ATMs, such as ANXBTC.

Good news for Japan and bitcoin, the UK also did this a couple of months ago, slowly but surely.

so this mean that they are following the european court route, and bitcoin will be free of vat

the problem with bitcoin right now, is that some country see it in a way and other in another worse, or better way

if bitcoin will grow better in some specific country i guess soem people will migrate there...i know i could do it one day

What does this mean?
Does it mean if I buy Bitcoin at 500 dollars and I sell it at 1000 dollars,
I don't have to pay capital gain?

This is good sign from Japan. After Europe Union and may be some more countries I am not aware of.
We all know that Bitcoin is Digital currency, but it`s important to have that confirmed by authorities as well.

Great.. now when are we getting our recovered Gox coins?  :'(

I heard Germany is the first country that officially  recognizes bitcoin and now it expands to Japan, and Hong Kong too. Do you know there is a bitcoin exhibition in Hong Kong recently? You can join if you have interest. It is at AsiaWorldExpo on 18-19 May

If Bitcoin is recognized as currency, then for sure will fuel a currency war. Not all currency is created equal, some are strong and some are weak, generally associated with a country's fate.
Bitcoin will be so unique, I think, it will become a always winner and final winner.

The government will take it's share either with VAT or with Capital Gain my friend or even both. There are many countries in the world, where you first have to pay Capital Gain and then VAT on anything you buy after that. The two things you are not going to avoid is Death & Taxes.

People should not see Bitcoin as a way to bypass tax responsibilities. ^hmmmm^

I hope the Japanese regulators are not doing this with the sole purpose of controlling the Bitcoin exchanges in the country. I hope we will see more Bitcoin adoption in the offline businesses like supermarkets, cinemas, shopping malls etc. where Bitcoin will be available as a legitimate payment option along with fiat.

Not at all surprising that Japan did this. They are a progressive country and they are very open to ideas / technology that make it easier for their people to transact and/or do business. I hope other countries would follow suit.

I think that is nice news, my opinion price of bitcoin will going up. I hope in the future there is not like mtgox in Japan.

As time goes on, most country in the world will recognize the bitcoin as a currency. So most people will use it.

Not sure if it going to be final winner. That scenario might be more harmful than good.
There is no way BTC can entirely replace other currency's. There is just not enough of it for
global adoption. Technology aware country's will jump forward thanks to bitcoin acceptance,
others will fall in to tech-less black hole. (Russia)
But for sure its position will get stronger and stronger day by day.
Its fun to watch bitcoins progress through the world, economy and peoples minds.
 

This is obviously good, but I seriously hope they now stay put regarding regulations... I hope the Mt Gox disaster doesn't make them scared of Bitcoin.

Japan's openness to technology is well-documented. Given high-speed internet and the seamless integration of tech in everyday japanese lives, hardly surprising that Japan ahs no problem with conceiving of BTC as money

It will be interesting to see how much more mass adoption Bitcoin will get in Japan now that they acknowledge it to be a legitimate digital currency. Do you guys know if the Japanese users will pay tax on Bitcoin or it will be tax-free?

The countries in Asian like Japan and China recognize Bitcoin more and more as a currency and as money. This is a great thing and it shows that Bitcoin is improving more and more. I hope that other countries like western countries are going to recognize Bitcoin as well.

That's a great news! I hope Europe and Americas will follow. Sooner or later Bitcoin will be recognized anyway and those who will do it first will be in profit, I think.

this is such a big news, the regulations are always good in a sense that more businesses will come forward and feel safer to accept bitcoin because it is legit now and on the other hand more people will start using it for the same reasons.

More people recognize bitcoin, the better. More people use bitcoin, more volume will be there. More volume cause higher prices. Higher prices will take attention of non-users. Non-users use bitcoin, will cause more volume.

...to the moon!

this is why im still thinking bitcoin father, satoshi nakamoto come from japan, japan is leading of bitcoin inovation, also goverment support bitcoin.

Bold move by Japan and yet others always wonder why their considered to be one of the most successful countries out there (simply because they do know what improves them and don't care if they created it or not). This will surely make a way for others to follow the path and as result more demand for BTCitcoin. Also the articles mentioned regarding woman wanting to buy some BTCitcoins in order to fund their husbands mainly due to the negative interest rate of banks which even for short term basis as their investments, it will have positive impact on BTCitcoin and banks would be used in smaller scenarios instead (like for receiving money that were converted from exchanges and immediate withdrawal to cash).

Japanese big fellows! It's really a worthy event, because Japan pretty advanced in technical terms the country. And the fact that it officially recognizes Bitcoin, it promises a great future for cryptocurrency. I think other countries, seeing on Japan also follow suit.

I'm not sure if I'm a big fan of news like this, if countries start to see Bitcoin as a real currency, does that mean that I would have to pay taxes on Bitcoins that I already own?

Another great news from great country,japan always lead in bitcoin,they dont want defeat by china,and i think in Asia that two always lead the technology and in bitcoin of course,i wish this is trusted news.

I'm pretty sure not when you just 'own' it. They can't tax your money. But when you spend it, that's when the tax duties would come.

That's nice news.Being from Japan I can totally admit our Government embraces new technological advancements .This is a old new though,I was able to purchase groceries from the nearest market  about 6 months ago.Many play cafe's and Virtual Reality stations are accepting bitcoins here. :)

No you will have to pay taxes on capital gains.
But you won't have to pay VAT as Japan treats Bitcoin as money and not commodity.So no double taxation.

Old to the natives maybe, but let the word travel around the world. No one country wants to fall behind on tech, and we all know Japan is one of the global leaders of tech, so who is surely to follow? The other superpowers of the world. Which will eventually lead to mass adaptation, globally. So hold your coins, stack them up, and stack them up safe and neatly.

Next step Nukes right? I mean Trump wants to pull the defensive umbrella out of Asia,so bitcoin regulation one day and the next nukes!

If this is well thought out,it may serve a purpose. If its rushed its just a pie to the face and over reactive to something that could have been.