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Author Topic: Japan considers making bitcoin a legal currency  (Read 2778 times)
Viyamore
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May 24, 2016, 04:31:29 PM
 #81

Japan thinks way ahead than the rest of the world so it is indeed an welcoming move.

But my concern is that, what will happen to it's kyc policy??

is it required to submit kyc for transacting in bitcoin or they can continue being anonymous??

What about the taxes?
I am also thinking about this if bitcoin begin to be a legal currency .what about taxes and these anonymous transaction although they can still make it anonymous but not that to secured.

Japan is also a small country but a big ahead when it comes to this kind of matter ,i am also thinking what china will do about it or they making plans also secretly.


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May 24, 2016, 04:53:14 PM
 #82

I really want to know how they manage to control the transactions(taxes purposes).
of course everybody and every country interesting about japan plan to regulate bitcoin,and this will make japan become role model for first country who do that,and i'm corious about that too,i wish its not hard to accept.

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May 24, 2016, 05:10:03 PM
 #83

I really want to know how they manage to control the transactions(taxes purposes).
of course everybody and every country interesting about japan plan to regulate bitcoin,and this will make japan become role model for first country who do that,and i'm corious about that too,i wish its not hard to accept.

It will not be surprise if Japan becomes first country in the world which fully accept Bitcoin as a legal currency.
This is very well developed country, specially in technology and obviously they have good foundation for Bitcoin.
How they will manage to control the transactions (taxes purposes)?
Well, why they should manage control over it?
Main purpose of Bitcoin is anonymity any way.
In many countries there is no tax on capital, only on earnings.
Japan can simple proclaim that there is no tax on Bitcoin but people have to report tax when they exchange Bitcoin to some other, hard currency and cash out on their bank accounts.


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May 24, 2016, 05:11:53 PM
 #84

Japan is going to be the pioneer in the crypto currency world soon. and if they do this that would be the fuel to their jets to make them the lead country in this matter.

on a vacation and missing out on all the fun Sad
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May 24, 2016, 05:14:01 PM
 #85

I hope the Japanese really makes bitcoin into something legal that other countries could follow, it will be very good when bitcoin legalized in every state


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May 24, 2016, 05:22:05 PM
 #86

Looks like Japan is on the forefront of cryptocurrency understanding and regulation

Sadly not so much on the forefront of apologizing for war crimes though

~CfA~

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