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Author Topic: the japanese bitlicense, way worse than the NY version.  (Read 1109 times)
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February 12, 2017, 08:23:00 AM
 #21

how they are going to prevent monero to be used, you don't need to sell soem altcoin, you can use them in the deep web and who receive will sell in his country, they cannot regulate this in any way

they can only regulate exchange not altcoin directly, it will be fun when decentralized exchange maybe built in wallet will be all over the place....

they can never prevent any cryptocurrency from being used, and they will all be used and traded if announced illegal even which is not the case here.
what is going to happen is that they may put some restrictions on the exchanges and regulate them. and the news is always making these things bigger than they really are. one thing that I am surprised to see in this article is the numbers they are giving for the cost of the applications and possibility of more future costs which seems to be unreal.
I am not familiar with bitconnect.co to tell if it is click-baiting or not.
I always prefer reading China news from 8btc that seems to be more realistic and with less to no lies about the situations.

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February 12, 2017, 09:32:39 AM
 #22

I did not follow this very closely or not at all to be precise, so maybe i lack some information or understanding, but consider this and correct me if i am wrong.
The coast to get a license and stay licensed seem high at first, but you are operating legally and this gives you a great form of safety. If we want Bitcoin become big, then sooner or later big companies, that can handle the licensing and still make money, would emerge anyway. Sure this is bad for smaller companies and a hindrance, but it is good for Bitcoin. Bitcoin is still new to them and has to fight for everything, which might change with time. Other countries will make cheaper licensed that are easier to obtain and then business will go there. It will just take a while till we get where we want to be.     

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February 12, 2017, 09:57:09 AM
 #23

This sounds really demanding, how can everyone fulfill this bureaucracy of a requirement in order to get listed? It's really a tall order for some of us. They need to lessen the license rules.

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