Bitcoin Forum

In a breaking news from yesterday: Japan has given official endorsement to 11 crypto currency exchanges.

http://www.cryptoanalyst.co/2017/10/01/japan-endorses-11-bitcoin-exchanges/

https://www.reuters.com/article/us-japan-bitcoin/japans-fsa-gives-official-endorsement-to-11-cryptocurrency-exchanges-idUSKCN1C40T9

What do you think will be the impact on the market and value?

At least there's still a east asian country that fully supports bitcoin and also have no plans to ban ICO's (unless there will be a big ICO scam in the near future which may make the japanese government rethink of their decisions). Let's see if which east Asian country will be benefited most with the decisions that they made

"In a prime example of real-world adoption, Japan’s Financial Services Agency (FSA) just endorsed 11 cryptocurrency exchanges, giving them official licenses to sell Bitcoin, Ethereum, and other altcoins to Japanese customers." Good lord, FINALLY. After a whole month or two of having nothing but bannings and FUD, we finally have some positive news for once. Kudos to Japan; hopefully we get more positive news from other countries in the future.

I hope that other countries in Asia will support the policy adopted by Japan about bitcoin, and the effect will be so great because we know that Japan is also a country with an economic and technological influence if it is acceptable to accept bitcoin as its payment, only, bitcoin known to the public

This is some amazing news for everyone who's holding their Bitcoins or has purchased them recently. After the China mess, I am sure this will come as a big boost for every stakeholder. I feel we will go to Mars if not Pluto, I feel the Bitcoin price wagon shall shoot up and up. It's only matter of days before it happens. A huge upswing for sure is coming. I feel this shall set another record for us.

it is funny how when Japanese regulate exchanges, everyone is happy and present it as a good news. but when other countries try to do the same thing it is considered bad news! weird. of course there is a tiny difference that Japan didn't close the exchanges first but the result is the same.

how would you know.
they may soon ban ICOs if they haven't already. you do realize that ICOs have nothing to do with exchanges, altcoins, bitcoin, trading,...

Very good news for Japan, Asia, ASEAN, and the rest of the world.

We evolve one step at a time. Unstoppable.

Can't say more that they're really tech friendly country among other in this world. Japan deserve to be a country with highest level of tech advance around in this world by the future.

The acceptance which come from other countries is not a bad news, but, the regulation that bring disadvantages to many bitcoin users from that country is such a bad news.
Have you seen the reaction of people when USA officially recognise bitcoin but as digital property.

I think the impact on the bitcoin market will be positive as recent bitcoin market value/price indicates being bullish.

I think its a good move , because as far as we know , that btc is future of finance , it only matter of time before other countries legalized Bitcoin, before Bitcoin only used for bad purpose like drug porn and money laundering , better accept it and give it a law about Bitcoin

Demand will increase in Japan, definitely. Japan has always been an early adopter when it comes to technology, and the fact that they are welcoming crypyocurrencies with open arms is a sign that the technology has a legit future. This also creates precendence that other countries could follow.

The Reuters article does state that there are 12 exchanges that decided to close its doors though. The article does not state the reason behind their closure, but I assume it's because they cannot comply with requirements. It just goes to show that regulation is not all good.

I would think it will be a very positive impact on the market, the price is certainly looking strong this morning. For all the fear of regulation in the crypto world, this should at least make people a little more confident in the exchanges, ie reduce the fear of gett Gox'd again. That, in turn, will help widen the adoption of Bitcoin to many people that don't trust it now.

The fact that Bitcoin is recognized as an asset rather than a currency in USA brings no disadvantages whatsoever.
In fact it's better because the government doesn't tax it directly (they can't even if they wanted to but still). You're taxed when converting to FIAT though, which isn't the case in other countries but it's good.

Well in terms of prices I think that the prices will be competitive and what I mean by competitive is that the prices will decrease but not that much but it will still be based on its current fair market value. In terms of volatility it will still be the same as buying and selling of Bitcoin won't be change and by having 11 exchanges we can expect an increase in volume if a lot of Japanese will try to make profit in the cryptocurrency market which I think they would.

This just goes to show that bitcoin would continue to be in demand in Japan while its neighbouring countries are still figuring how to deal with exchanges. Must have been because of the explosion in the demand in bitcoin ever since it was recognised as a legal tender back in April, with many big and well-known merchants making it known that they are in full support of accepting bitcoin. And with the demand still on the rise, we can expect that more exchanges are going to submit their application to have a share of this multi-billion dollar business.

Japan is proving to the whold world now, why japan is independent of other countries, not only in advancement in technology but also when it comes to the future of cryptocurrencies. Japan's move, after the shutdown of exchanges from china and sokor, will only mean, more and more traders will go to japan's exchanges, not only that people would rely on japan, their exchanges will surely be trusted, knowing the discipline of japanese people, this will only bring them more income. Hopefully, other countries will follow the example of japan, instead of breaking down their exchanges.i think japan will be among ghe leading country that will succeed in cryptocurrencies because of this move, and once they do, i think other countries might follow, kudos to the japanese.

also i read Japan have more effect than china in bitcoin so that  prices may be touch 5000$

That is good that bitcoin grows in popularity in increasing number of countries.
Global leadership of bitcoin is not far off.

Superb news! Go Japan, looks like we can expect more price rises in the future then :)

Good news to hear. Japan will be soon followed by China. Thus about (1/5)th of the world population will be involved and know about bitcoin. The last two weeks the bitcoin price was around 3500-4200, this will definitely help and decide the bitcoin price to continue to appreciate. Very good news, I am waiting for when Japan will be also involved in farming bitcoin for all the world.
 

Very good news. A lot of factors are going to converge in the next 2-5 months: this endorsement, Kim Dotcom's Bitcache + K.im , hard forks. Just hold or buy more bitcoins and you will have profits.

It is indeed a good news, kudos to Japan! China was mistaken to have allowed itself stand in the way of a force, whose time have arrived. With the latest development Japanese exchanges are going to attract and mop up all those volumes China took for granted and that would be boost overall global demand for Bitcoin.

China is definitely planning on creating their own cryptocurrency now or at least support the development of china made cryptocurrencies. What made them do their decisions before was because it may be too hard for them to control the spread of bitcoin (cryptos) to their country that are supposedly decentralized which is the exact oppisite of how their government works

that's good news for the community who supports bitcoin. The value will of itself will increase. If alot of countries will follow the footsteps of JAPAN IT'S good news for us :)

It's good to hear that one of the leading countries when it comes to technologies supported bitcoin and other crypto currencies. I think it is a sign of good future for bitcoin, it seems the adaptability of cryptos in the market are getting  wider and stronger it can lead to high value appreciation of bitcoin as well as increase in the demand and users of bitcoin.

Japan have a significant influence in bitcoin,I remember it clearly last year when BTC was introduce in Japan there's a huge pump in value of crypto-currencies, I reckon this will surely increase the price of bitcoin for the following weeks or months.

get ready to see a levitation magic this year.

i think is awesome it will greatly boost the economy of the country..I hope in my country will be like that ;D

This is really a good news, powerful countries are always there supporting and promoting bitcoin to have more investors, I think the price in the market will surely rise up.

thats a great news.we all have some option to be to find the best exchanges ever, and maybe the big impact of that in the market is, its more compete from the other exchanges, and the value of this bitcoin will continue to pump because there are more exchanges will exist after a year and the volume of bitcoin and altcoin in the market will split into many/more exchanges and more bids to will come.

This will be a good sign for all cryptocurrency enthusiasts and also a slap in the face to chinese government, let's not just talk about china's stupidity but the support of Japan to bitcoin community, it is really awesome to know that there are countries like japan that knows the future of payment. I hope other countries will follow soon.

This is a great news! After having lots of bad news before about Bitcoin, this one is a good one. The impact of Japan endorsing eleven Bitcoin exchanges is that the price of Bitcoin will increase because there is an increase in demand. Aside from that, many investors will be confident now to invest on it because Japan endorsed it. Such a happy news! :)

Indeed, a Good news for us!. This will have a great impact imagine these 11 exchanges operating the bitcoin transactions will make the bitcoin flowing and continously moving which makes bitcoin alive and active.

I haven't heard about bitcoin yet when I was living in Tokyo, but now I honestly want to go back there for good. Having 11 endorsed btc exchanges means a lot to the community knowing that China abandoned it's support to bitcoins. What I am seeing is that the Chinese will eventually have the courage to go back to trading via these exchanges from Japan. Yen to Yuan conversion is not that difficult though.

Yeah that's right. On one hand there is China who is baning ICO's and obstructing BTC's success and then there is Japan who has become the top country in supporting bitcoin, maybe it will go ahead US in terms of btc users soon.

It is because the first countries that regulate digital currency exchanges first ban it then when many people disagree with them they think again then they just regulate it. An example of this action is china. The good thing is that japan dont ban it, they simply accept it then regulate it without the urge to control bitcoin or cryprocurrency. They simply know that people loves democracy and controling wont do anything.

This is a great news!  With 11 Bitcoin exchanges endorsed/licensed, Japan is becoming a leader in Bitcoin. This will increase public adoption.

As of now, I can't see any impact on the exchange rates. Anyway, it is heartening to see Japan legalizing the crypto-currency and the exchanges dealing with it, at the same time some of the other nations (especially China) are trying to ban it altogether.

Japan is one of the very few countries that has been supporting bitcoin while other countries have been banning exchanges, icos and saying bull shit about bitcoin because of the fear they have against bitcoin. The investing ratio in bitcoin has been higher than ever and governments are scared to lose their people's capital being taken by means of scams. However, the price should be increasing now that Japan has endorsed exchanges and a rumor saying that China will be back on October 1 or something with implemented regulations.

If someone chose bitcoin this is smart man and there mind are trade for business and they invests theur money in bitcoin they become a rich. But this all needs a long time therefore Japan is one of the country who are supporting Bitcoin.

According to an article i read yesterday, "China will put an iron-fist rules to exchanges". From the looks of it, it is a good thing for china to implement this kind of rules because cryptocurrency trading/exchanging have problems like pump/dump groups which can degrade the trustworthiness of a coin

This is great news, Japan is very trustable when it comes to technology and dealing with this digital currency.
I hope other countries in Asia will soon follow.

That's nice to see Japan endorsing 11 Bitcoin Exachnges as they recently announced that Bitcoin is legal in their country. However, they are putting heavy taxes and premiums on it so I've heard.

Awfully amusing idea. It has some fishy parts.  I shall analyze.