Japan Considers Regulating Bitcoin as Currency

[Snorek]

It is good and bad at the same time. Recognizing bitcoin as 'normal' currency is great move. But you have to realize that will mean subjecting them to tighter oversight.
It will mean consumer protection at the cost of restrictions and maybe harsh laws. Are we ready for bitcoin licensing?

[mrflibblehat]

It is good or bad at the same time. Recognizing bitcoin as 'normal' currency is great move. But you have to realize that will mean subjecting them to tighter oversight.
It will mean consumer protection at the cost of restrictions and maybe harsh laws. Are we ready for bitcoin licensing?

But can they license it? I mean, this is the best part of bitcoin. No one can control it.

[Meuh6879]

duh

of course Japan recognizes Bitcoin as cryptocurrency

it was invented by a Nakamoto

Nakamoto Team ?

Are you ready for the Prison Rape Elimination Act Standards? Nakamoto is! We can assess your operation and physical plant, train your staff, and prepare your program or facility for compliance with the new law. We are staffed with experts on all versions of the PREA Standards: Adult Prisons and Jails (with Immigration Supplement), Juvenile Facilities, Lockups, and Community Corrections. We'll ensure that your Federal funding is not jeopardized due to PREA deficiencies.

http://nakamotogroup.com/Corrections.aspx




WRONG WAY AHEAD.

Bitcoin can not be regulate ... at all.

[Raimonn]

Its good that Japan wants to see Bitcoin as a normal currency, we need a first country that recognizes it as money. Some users are afraid about after that exchanges could be asked for licenses, but after MtGox, Cryptsy... I don't expect that bitcoin were regulated by governments, but could be good that exchanges need some regulation to be more secure for new bitcoin users.

[BellaBitBit]

Its good that Japan wants to see Bitcoin as a normal currency, we need a first country that recognizes it as money. Some users are afraid about after that exchanges could be asked for licenses, but after MtGox, Cryptsy... I don't expect that bitcoin were regulated by governments, but could be good that exchanges need some regulation to be more secure for new bitcoin users.

It fits that Japan would be first to recognize it as money.  I will be interested to see how this process works, other countries could follow leading to more adoption. Good news.

[CryptoGore]

A country will never use BTC only currency unless its real money would inflate down to - 10000% ..

Anyway Japan is a hi-tech country and maybe BTC will spread faster there than anywhere else.

[DodoB]

duh

of course Japan recognizes Bitcoin as cryptocurrency

it was invented by a Nakamoto

But Nakamoto is American or British

in his forum posts he had perfect english typical to a native speaker. might have been a Japanese American though

[Coaxme]

This is good for BTC as japan is one of the smart people.

[Viakor]

It´s only natural that this is happening. Satoshi Nakamoto the inventor of bitcoin is from Japan. Of course it would be easier to have an influence like this on his own country.

[n0ne]

If such regulations comes to reality. Large number of users can be found over the regions of japan too. So as China make changes in market price of bitcoin, japan too will make fluctuation with its increased users.

[danherbias07]

If this thing is real then there are a lot to be considered before taking the next step.
The first question could be: Will the people accept it? Can they adapt through it or they are too lazy to know what it is?

Risk and maybe some good news can be seen but it will be hard.

[clickerz]

I am afraid if Japan is serious in doing this,would hamper the growth of bitcoin. By regulationg bitcoin, means they want to control bitcoin in thier country? I think its a wrong move but, maybe they know more than us.

[alyssa85]

A country will never use BTC only currency unless its real money would inflate down to - 10000% ..

Venezuela is getting close - inflation there of 720% (I kid you not).

But they are reacting with force against those who use BTC (miners being arrested etc).

[Kprawn]

It´s only natural that this is happening. Satoshi Nakamoto the inventor of bitcoin is from Japan. Of course it would be easier to have an influence like this on his own country.

Where are you getting this information from? Satoshi Nakamoto is a pseudonym and nobody knows where he or she or they are from. I can also grab a fake name from a movie or a story book and

nobody will be able to track my origin based on that. Satoshi, might even have chosen that name, to redirect their search and confuse the people looking for him. {For this discussion, I will refer to him

as a man} Japan can claim nothing based on the name Satoshi chose... It's just a name. 

[Hirose UK]

http://asia.nikkei.com/Politics-Economy/Policy-Politics/Japan-eyes-treating-bitcoins-the-same-as-real-money

that's really nice. if an advanced country like Japan accepts bitcoin as money, the other countries will probably follow it's stepfoot. however, hope bitcoin will be mainstream

[vinaha]

This is good news. A push forward in the right direction!

[Slowturtleinc]

Japan is usually pretty restrictive in nature,just look at how many people they allow to settle there or the food restriction in trade.
If anything bitcoin will be stifled with Japanese regulations.

[maokoto]

Japan tends to be very advanced, but also to put on regulations on things, that is true. Let's wait and see what happens.

[krunox123]

It´s only natural that this is happening. Satoshi Nakamoto the inventor of bitcoin is from Japan. Of course it would be easier to have an influence like this on his own country.

You are completely wrong, IMO. Satoshi Nakamoto is just a pseudonym, and his/her/their identity is yet to be known AFAIK, and there is no substantial evidence that he/she/they is a Japanese. For instance, my name is Bruce Lee, but I'm not a Chinese. (No, Bruce Lee isn't my name.)

[fuathan]

They should do as well... There is few differences between dollar and btc because dollar has no gold standard... Dollar is just a digital currency like BTC... Dollar is supporting by US government and older than BTC, that's all...