Japan starts registering exchanges

[Tipstar]

Japan on it's move to regulate cryptocoins, has started licensing exchanges operating inside it's jurisdiction.
https://www.bitsonline.com/japanese-exchanges-licenses/

Quoinex becomes the first to get such license followed by bitflyer.

So, are we going towards more kyc, identity verification, source of income, income tax, profit tax, remittance tax?

[HardFireMiner]

Japan on it's move to regulate cryptocoins, has started licensing exchanges operating inside it's jurisdiction.
https://www.bitsonline.com/japanese-exchanges-licenses/

Quoinex becomes the first to get such license followed by bitflyer.

So, are we going towards more kyc, identity verification, source of income, income tax, profit tax, remittance tax?

Of course! Not all governments yet fully realized how to tax the money from mining and crypto trade, but some of them are touching the ground. Sooner or later, most miners will pay taxes. You can't hide from the taxman .

[dhemasm]

Good news, I see a great future in Japanese crypto and for tax problems let's wait for further news!

[axrhuls]

Awesome, they embrace blockchain, but China refuses, let us see Japan will beat China.

[CoinSavvy]

It's really interesting. Japan introduced another approach in comparison to China's ban, and in fact it seems to become more profitable for the country in overall. However, I think not all crypto-people/companies will appreciate such effort in the form of taxes and other fees.

[bitcoinvestor]

yes, it is a good news, I hope there will be more countries legalize bitcoin, When bitcoin is legal , it will attract more buyers so the the price will increase too, The law of suply and demand. What countries will follow Japan?

[mongkie]

what a great news! s. korea is banning icos now but japan is in exchanges now. i have converted my btc to fiat when the s korean news arrived because the btc price drops. but thanks to japan that pacify the price by announcing that they are legalizing exchanges there!

[Despacito]

Japan on it's move to regulate cryptocoins, has started licensing exchanges operating inside it's jurisdiction.
https://www.bitsonline.com/japanese-exchanges-licenses/

Quoinex becomes the first to get such license followed by bitflyer.

So, are we going towards more kyc, identity verification, source of income, income tax, profit tax, remittance tax?

This is the opposite of china. I like japan becase they're really trying to do beneficial things for the society of crypto. They make it legal and then they're planning to open regulated exchanges. Awesome.

[carlisle1]

for sure there are some rules that's needed to be implemented after they accept those exchange and for sure too that taxes will be put in hands too
as this company will generate income and the government will need some share from that.

[PowerfulGuerilla]

It's really promising news. With at least some kind of regulation/tax-charging for using(exchanging) cryptocurrencies in Japan, it could stimulate potential people to be more involved into the crypto-world in general.

[Mozdalifa17]

Japan on it's move to regulate cryptocoins, has started licensing exchanges operating inside it's jurisdiction.
https://www.bitsonline.com/japanese-exchanges-licenses/

Quoinex becomes the first to get such license followed by bitflyer.

So, are we going towards more kyc, identity verification, source of income, income tax, profit tax, remittance tax?

i think it is a time for decentralized exchanges before other government ride the train of regulation . the main reason that many people join crptos every day is the rule of freedom , none of us looking for finical person again .

[CuriousGeorge]

Japan on it's move to regulate cryptocoins, has started licensing exchanges operating inside it's jurisdiction.
https://www.bitsonline.com/japanese-exchanges-licenses/

Quoinex becomes the first to get such license followed by bitflyer.

So, are we going towards more kyc, identity verification, source of income, income tax, profit tax, remittance tax?

I don't think so, if you are still wanna using the decenctralized exchange site which to avoid them all. But i think the japanes will not strict as what already done by the chinese to us. Because the japanese is more friendly for us about that, and the exchange sites license can be determined as the serious intention from the goverment.

[OriginalBankster]

good news..
Japan is pretty quick about adopting new technologies.

[Basmic]

The Japanese are very law-abiding citizens. I think they only lose from what will be registered by the users on the exchanges. Perhaps as this phenomenon will spread we will witness that exchange will be recorded offshore.

[omonuyak]

Japan on it's move to regulate cryptocoins, has started licensing exchanges operating inside it's jurisdiction.
https://www.bitsonline.com/japanese-exchanges-licenses/

Quoinex becomes the first to get such license followed by bitflyer.

So, are we going towards more kyc, identity verification, source of income, income tax, profit tax, remittance tax?

To me this is a very good development and a step in the right direction. We should all support Japanese government on This as this is the major way governments will have interest in cryptocurrency. Regulations will also help in putting scamming exchangers to check. I think more countries should follow suit in regulating cryptocoin exchangers as this will sanitize the cryptocoin market.

[Zeeks]

Japan on it's move to regulate cryptocoins, has started licensing exchanges operating inside it's jurisdiction.
https://www.bitsonline.com/japanese-exchanges-licenses/

Quoinex becomes the first to get such license followed by bitflyer.

So, are we going towards more kyc, identity verification, source of income, income tax, profit tax, remittance tax?

i think it is a time for decentralized exchanges before other government ride the train of regulation . the main reason that many people join crptos every day is the rule of freedom , none of us looking for finical person again .

Yep.

What is the use of crypto if everything is going to be regulated.. feels like we might as well go back to fiat, or let an anon coin take over so we will remain "free".

[jyotianand01]

Japan on it's move to regulate cryptocoins, has started licensing exchanges operating inside it's jurisdiction.
https://www.bitsonline.com/japanese-exchanges-licenses/

Quoinex becomes the first to get such license followed by bitflyer.

So, are we going towards more kyc, identity verification, source of income, income tax, profit tax, remittance tax?

If that happens, it is a booster doge for crypto currency market as a positive news comes from japan after many bad news from china. Japanese people are very honest and they will never break any rule and there government make proper regulations for their people and it will give big boost to all altcoins specially BTC.

[Ch1bi]

Japan on it's move to regulate cryptocoins, has started licensing exchanges operating inside it's jurisdiction.
https://www.bitsonline.com/japanese-exchanges-licenses/

Quoinex becomes the first to get such license followed by bitflyer.

So, are we going towards more kyc, identity verification, source of income, income tax, profit tax, remittance tax?

I think it's a step in the right direction. People don't want exchanges just running off with people's money, so I hope things work out. With that the users of those exchanges will probably need to provide some sort of identity, and the exchange themselves will have to give up information such as income etc.

[shandi albert]

although only applies in Japan alone they have developed crypto technology and blockchain technology

and if in taxes, will add to the source of state income
if such a state seems to support a bitcoin transaction.

[Cloud27]

The move to register the exchanges in Japan is because of what happened to Mt. Gox. Japan doesn't want that global humiliation to happen again. Maybe there are no implementations of taxes to bitcoin transactions, only to have a license to operate. Perhaps they will leave bitcoin for what it is and learn the experiences they will get from bitcoin and apply it to their upcoming digital currency in the form of Jcoin.