Japan is a tech-friendly nation and they love innovations, i`m suprised that they "lost trust" in bitcoin.
Mt. gox was indeed bad news and many more people were not as informed about Bitcoin as they are today. And now, Bitcoin is fast maturing and its role as a seamless means of international payment is not something to pass up by a country that relies heavily on exports.
The Japanese financial system is a joke,their debts are huge and their national currency is weak.
Well debt is a part of every nation, that is one of the faults of the monetary system the world embraced and there is no end to it, except creation of credits and mindless printing of money backed by nothingness stops, but I doubt it ever would!
They have to adopt blockchain+bitcoin and this will be a huge progress for us and them.
That is the obvious way forward for any country that is seeing the future, but from what the article appears to be saying, I think there is still a dark side to it:
Kawabata explained that “there are various requirements we need to comply with to continue our exchange business,” he said. “As an operating exchange, KYC/AML and paperwork are probably the heaviest part. We need to comply with strict KYC requirements similar to banks which cause new users’ KYC process to be somewhat complex”.
Am afraid, if strict KYC/AML similar to banks is a part of it all, then it is no longer all about Bitcoin!