Japan's Bitcoin Law Goes Into Effect Tomorrow

[FLoving]

Does that mean there will be bank in Japan that allow you to open an bitcoin account? I hope that will happen soon!

No it does not mean that there will be a bank account of bitcoin in japan but it is only the process towards that I mean a step towards that. If the governments started to take interest like that then one day banks will be started by the governments.

[gredisgold88]

apply to Veritifikation KYC in exchange is a way of state legal formalities and online transactions that bitcoin is acceptable in a global transaction, the possibility of the country experiencing inflation fears and money laundering against the national currency. This arrangement can also help advertising against to wider community, and bitcoin requires the legality of state in order to be justified. although it will lose anonymous in transactions on the exchange, and which would eliminate the little anounytas in exchange, but did not lose anonymous transactions between users

[Marma Kalari]

It is a good news and with the positive news coming out of Japan the price of bitcoin started moving and with the Indian parliament making a decision about bitcoin in the wakes of an MP claiming bitcoin to be a ponzi scheme this is a positive news to showcase when they make their decision about it and even with KYC it is not an obstacle but it is against the fundamentals of bitcoin and we can do nothing about it rather than moving with the flow.

[Labumi]

It's definitely bad news in yes of the ease of buying bitcoins but it could help it seem more trustworthy in some naive people's eyes. I don't think it will affect the price either way, although it may affect the adoption rate in Japan.

Something legal would be a lot more attractive than something that is uncertain or does not yet have legal proof. So if indeed Japan Trust bitcoin as payment, it will be more and more people are using bitcoin in bitcoin. And you need to know if more and more users bitcoin then will be higher prices, because indeed the level of demand will be much greater than the availability stock in trade.
 

[giveen]

Yup that's a really good news in a long time related to bitcoin. If japan actually decided to adopt the coin that means that the number of bitcoin holders will be shared equally and if japan population showed interest in it then we could also see a bump in price coming soon.

[kidoseagle0312]

Hmmm interesting. I bet japan has big investors nothing like china or anything but I wonder if this may have negative effects on prices?

For what Japan did, is a big factor and advantage to all bitcoin enthusiast like us to share bitcoin to our friends.  And I guess because of this things the price value of bitcoin will go up again just like what the price right now. And because of this thing also it maybe attract the other investors to get interest into bitcoin.

[Carlsen]

I think it's fine what they are doing.
If they put bitcoin exchanges under anti-money laundering/know-your-customer rules, they give bitcoin some kind of trust reputation.
And trust is something bitcoin can use very well!
I think it's a good step, especially in an industry nation such as japan!