Japan Passes Bill to Regulate Bitcoin Exchanges...

[xinavane]

Hi Guys!!

Japan has enacted a bill today that will see the regulation of operators of virtual currency exchanges... a Japan Times report revealed it... The revised law will go into effect within a year of its promulgation.

http://www.japantimes.co.jp/news/2016/05/25/business/diet-oks-bill-regulate-virtual-currency-exchanges/


The regulations will help improve the trust in the virtual currency? how? why?

[bitbaby]

Hi Guys!!

Japan has enacted a bill today that will see the regulation of operators of virtual currency exchanges... a Japan Times report revealed it... The revised law will go into effect within a year of its promulgation.

http://www.japantimes.co.jp/news/2016/05/25/business/diet-oks-bill-regulate-virtual-currency-exchanges/


The regulations will help improve the trust in the virtual currency? how? why?

Nothing new, for legal exchanges it is required almost everywhere to keep records of anyone buying/selling currencies and for that all the users who trade at those exchanges will be required to provide KYC documents. The regulations helps as users can buy/sell with confidence without having to worry about getting scammed and/or getting arrested. These regulations though may appear bad as they take away your anonymity of buying/selling BTC but it is good for long term mainstream adoption.

[Chandan das]

BTC

http://[url=http://[i][/i]][i][/i][/url]

[/s][/u][/i][/b][/s][/color]

Hi Guys!!

Japan has enacted a bill today that will see the regulation of operators of virtual currency exchanges... a Japan Times report revealed it... The revised law will go into effect within a year of its promulgation.

http://www.japantimes.co.jp/news/2016/05/25/business/diet-oks-bill-regulate-virtual-currency-exchanges/


The regulations will help improve the trust in the virtual currency? how? why?

[gentlemand]

I'm not one who believes a 'free market' resolves all. So far in cryptoland 'free market' appears to equal nothing but raping innocents. If you're in charge of other peoples' money then you should be nailed to the wall if you fuck up and you should jump through multiple hoops before setting up. It's a positive in my eyes.

[xinavane]

Now what should those rules be? Do you trust our government to allow us unfettered access? They could easily claim the "national security" to restrict access to some sites. But...

[gcride]

after i lost everything in mtgox im not surprised...

[Hazir]

after i lost everything in mtgox im not surprised...

So this news should be interesting for you. http://www.theregister.co.uk/2016/05/25/kraken_mtgox_bankruptcy/
You might be getting some of your lost coins back.

Also this: http://blog.kraken.com/post/144960310242/kraken-announces-major-update-in-mtgox-claims

[BellaBitBit]

This is good news considering that exchanges have been so risky and some have lost a lot of BTC with no recourse.  In order to bring new investors and users to bitcoin and crypto there will need to be a sense of security. 

[Muhammad Zain]

I think it is just a kidding. I don't think so that such think has happened in japan

[Maesters1-]

congratulation now we can say that the future of bitcoin is very bright. that is a very very constructive step in favour of bitcoin. but i think still it will take some time to be pass from assembly and then from scenet.

[Cresciuanto]

yes i have heard the news some days before, my friend was talking about that he watched on social media that japan has passed a bill about bitcoin regularization. i think that is good step about the legalization and acceptation of bitcoin through out the world.

[StoreBit]

if they have pass the bill about regulating bitcoin exchange its mean that they have legalize bitcoin. that is such a good idea. i think this step will really increase the value of bitcoin.

[Cresciuanto]

if they have pass the bill about regulating bitcoin exchange its mean that they have legalize bitcoin. that is such a good idea. i think this step will really increase the value of bitcoin.

yes that is a fact and i think that is the reason that the price of bitcoin is increasing gradually. if this news if a true news then it is conform that the price of bitcoin will increase and may be cross 1000 USD limit.

[abugseuf]

we are hearing this news again and again some time on social media and some time from our friends and in bitcointalk. but still there is no conformation about this statement. i dont know either is for real or just the expectation.

[Maesters1-]

we are hearing this news again and again some time on social media and some time from our friends and in bitcointalk. but still there is no conformation about this statement. i dont know either is for real or just the expectation.

if it is true and they really passed the bill about the regulation of bitcoin exchange it is really a very good news in favour of bitcoin.i think it will really promote bitcoin and it will be a very positive effect on the price of bitcoin.

[GreenBits]

we are hearing this news again and again some time on social media and some time from our friends and in bitcointalk. but still there is no conformation about this statement. i dont know either is for real or just the expectation.

I have yet to catch a news snippet or article to confirm this. But it makes sense, Gox was epic and I think other governments are waiting to see how Japan prevents this from happening in the future. Notice how most governments are uncharacteristically hands off with cryptos. Guy makes a new fiat, goes to jail. Guy mints a new gold coin, same thing. But bitcoin, despite the obvious boon it provides for money laundering, is pretty much unmolested. They simply want you to pay taxes. Seems like they aren't taking it seriously, which I doubt, or there is a longer term strategy at play.

[Cresciuanto]

we are hearing this news again and again some time on social media and some time from our friends and in bitcointalk. but still there is no conformation about this statement. i dont know either is for real or just the expectation.

I have yet to catch a news snippet or article to confirm this. But it makes sense, Gox was epic and I think other governments are waiting to see how Japan prevents this from happening in the future. Notice how most governments are uncharacteristically hands off with cryptos. Guy makes a new fiat, goes to jail. Guy mints a new gold coin, same thing. But bitcoin, despite the obvious boon it provides for money laundering, is pretty much unmolested. They simply want you to pay taxes. Seems like they aren't taking it seriously, which I doubt, or there is a longer term strategy at play.

i have no idea either these are true news or false but one thing want to tell you that in future you will see that not only japan but about all the countries of the world will regularize it and will legalize its trading.

[Superbitzz]

congratulation now we can say that the future of bitcoin is very bright. that is a very very constructive step in favour of bitcoin. but i think still it will take some time to be pass from assembly and then from scenet.

yes that is a fact. that will be very helpful in improving the position of bitcoin. i think that is a very good news to be hear. hope that now bitcoin will really become a permanent curry in the whole world and all the people will trad it equally in all over the world/

[Gahs]

I believe this act will put the Japanese more at ease.They can trade without having to fear that the other person will disappear with their money.

[zodin]

if it is  true then it must be a very good news for the future of bitcoin. because that will be really a very good step in the favour of bitcoin. i thin after that so many other countries will also take step to regulate it.