Japan Officially Recognizes Bitcoin and Digital Currencies as Money

[Betwrong]

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

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.

[Herbert2020]

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.

[mindrust]

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!

[trinaldao]

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

[SFR10]

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).

[Enotche]

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.

[eternalgloom]

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?

[Boosterious]

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

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.

[lumeire]

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?

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.

[KenR]

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.

[Denker]

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?

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.

[Dezval]

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.

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.

[Slowturtleinc]

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.