Good news or bad news...

[petorosconk]

I think this is good news because it will reduce money laundering in the country of japan, may the economy there also improved and bring good impact on crypto

[crisanto01]

I think this is good news because it will reduce money laundering in the country of japan, may the economy there also improved and bring good impact on crypto

On the other hand it has a positive side, right? Just keep supporting your government as they know the truth and what is best in one country so if they have said that we need to control the price or the value of one thing they can do it.

[NoNetwork]

Japanese Ministry of Finance is going to prepare rules for cross-border transfers of digital money

The Ministry of Finance of Japan is going to prepare in the near future rules for the foreign transfer of digital money.

According to the report of the newspaper Nihon Keizai on April 5, the Ministry of Finance plans to introduce rules under which notice to the authorities should be strictly mandatory if the cost of transferring money for a foreign transfer is more than 30 million yen.

It is said that the decision of the Ministry of Finance will facilitate the consideration of the real situation with operations abroad and is designed to curb money laundering operations.
Source: Alpari

This has two parts:

Good News:
Its a good news to them. I mean it was really their desire to take over cryptocurrency since day one. When they knew that they will not gain economic-wise from this platform, they immediately come up with a solution and that is by regulation. But now this? They're taking this too far, talk about propaganda of some sort.

Bad News:
Maybe. I said it because, what if this could lessen or even eliminate the number of ICOs that tends to being a scam. I mean there are a lot of ICOs lately that are scams (one of the reasons why some countries ban cryptos and ICOs). But then again, its a bad news, because another thing that they regulate is the ability for people to share their ICO.

[wuvdoll]

Hello, I found your post interesting can you please provide us with the link of your news? I could not find it online.

A link will actually be very appropriate to be able to read the full news because everything the OP has placed here is not really adding up. Considering I can decide to do without an exchange if I wish, if I am doing a foreign transfer, how does the government plan to monitor all these ?

Everything here from my own thought will only be limited to the use of exchanges, and it is not really a bad news as far as I am concerned, since at least it would help out in the case of money laundering. I guess we are welcome to the world of regulation.

[Kolly]

Japanese Ministry of Finance is going to prepare rules for cross-border transfers of digital money

The Ministry of Finance of Japan is going to prepare in the near future rules for the foreign transfer of digital money.

According to the report of the newspaper Nihon Keizai on April 5, the Ministry of Finance plans to introduce rules under which notice to the authorities should be strictly mandatory if the cost of transferring money for a foreign transfer is more than 30 million yen.

It is said that the decision of the Ministry of Finance will facilitate the consideration of the real situation with operations abroad and is designed to curb money laundering operations.
Source: Alpari

30 million yen is less than 300K when converted to US dollars. Government of Japan is mindful enough to consider the transfer of digital money can be used for illegal activities like money laundering. Good news for a lot of people but bad news for money launderers.

[Jeepney_koh]

Japanese Ministry of Finance is going to prepare rules for cross-border transfers of digital money

The Ministry of Finance of Japan is going to prepare in the near future rules for the foreign transfer of digital money.

According to the report of the newspaper Nihon Keizai on April 5, the Ministry of Finance plans to introduce rules under which notice to the authorities should be strictly mandatory if the cost of transferring money for a foreign transfer is more than 30 million yen.

It is said that the decision of the Ministry of Finance will facilitate the consideration of the real situation with operations abroad and is designed to curb money laundering operations.
Source: Alpari

I think this is a good news for Japan's government because they are pareparing for a greater service and for protection of their people against sacm and laundering. As long as they are adapting the bitcoin's good intention, it will still a good news.

[CuteBaby123]

Japanese Ministry of Finance is going to prepare rules for cross-border transfers of digital money

The Ministry of Finance of Japan is going to prepare in the near future rules for the foreign transfer of digital money.

According to the report of the newspaper Nihon Keizai on April 5, the Ministry of Finance plans to introduce rules under which notice to the authorities should be strictly mandatory if the cost of transferring money for a foreign transfer is more than 30 million yen.

It is said that the decision of the Ministry of Finance will facilitate the consideration of the real situation with operations abroad and is designed to curb money laundering operations.
Source: Alpari

This is certainly a good news for the citizens of Japan. I appreciate their government for accepting the idea of bitcoin and integrating it in their economic and financial plans. There is no greater news if they are just giving regulations to protect their people against any fraud.

[Lyne01]

Japanese Ministry of Finance is going to prepare rules for cross-border transfers of digital money

The Ministry of Finance of Japan is going to prepare in the near future rules for the foreign transfer of digital money.

According to the report of the newspaper Nihon Keizai on April 5, the Ministry of Finance plans to introduce rules under which notice to the authorities should be strictly mandatory if the cost of transferring money for a foreign transfer is more than 30 million yen.

It is said that the decision of the Ministry of Finance will facilitate the consideration of the real situation with operations abroad and is designed to curb money laundering operations.
Source: Alpari

This is a good news for Japanese people. Japanese government are doing their plans and preparing for the betterment of their country and their people. Protectiom agianst money laundering, fraud and other illegal activities is good news for them.

[inanilujimi]

every country if you want to make the latest rules must have been in mind well.
so I think this is good news for the Japanese government but there is a bad effect as well here, I think the standard transfer should be lowered again because such funds are too big.

[saras008]

Maybe this will slightly affect the circulation of crypto but may not have an effect on the price. If this becomes an influence it will have a huge impact given Japan also is a great State if talks about crypto.

[Adamant06]

I cannot totally say if it is a bad news or good news. It will be interesting to see how the Japanese experiment evolves. The government has indicated that it will force bitcoin exchanges to be on the lookout for criminal activity and to collect information on deposit holders. Still, one can be sure that global tax evaders will seek ways to acquire bitcoin anonymously abroad and then launder their money through Japanese accounts. Carrying paper currency in and out of a country is a major cost for tax evaders and criminals; by embracing virtual currencies, Japan risks becoming a Switzerland like tax haven with the bank secrecy laws baked into the technology.

[arpon11]

Cryptocurrency was not made in future to favor governments regulatory authority and because of this we should not think that they are going to fold there hand and not fighting it.  Bitcoin and blockchain technology in future is going to take job from the man's hand and didn't think he would be happy for that, therefore, he is fighting with all his strength to keep his job.  Not only him but including the government officials,  bankers and financial analyst are going to be against bitcoin.

[_noname_]

A connection will really be exceptionally fitting to have the capacity to peruse the full news on the grounds that everything the OP has put here isn't generally including. Considering I can choose to manage without a trade on the off chance that I wish, on the off chance that I am completing a remote exchange, how does the administration intend to screen all these .Everything here from my own particular idea might be constrained to the utilization of trades, and it isn't generally a terrible news to the extent I am worried, since at any rate it would assist on account of illegal tax avoidance. I figure we are welcome to the universe of direction.

[Stephen1989]

I agree this is good news. Japanese government makes the right rule to prevent money laundering or misuse of money for the benefit of the bad guys

[Rubble898zaitO]

This is a great news, the Japanese are very wise and smart in welcoming crypto currencies to their country and their people at the same time they are implementing rules strict rules and regulations to avoid those who will be using it for bad or illegal activities. No wonder, Japan is a great and successful country, they make sure that they are maximizing the good things Bitcoin can bring at the same time, protecting their people from those who can use it for bad things.

[Palodar]

Cryptocurrency was not made in future to favor governments regulatory authority and because of this we should not think that they are going to fold there hand and not fighting it.  Bitcoin and blockchain technology in future is going to take job from the man's hand and didn't think he would be happy for that, therefore, he is fighting with all his strength to keep his job.  Not only him but including the government officials,  bankers and financial analyst are going to be against bitcoin.

Many trying to let bitcoin down especially this year , but bitcoin is somehow we can't resist now as it is part of the innovation in technology that we find ease and as a bank who let us earn and save at the same time. The battle will always be present in it.

[yakafi]

Japanese Ministry of Finance is going to prepare rules for cross-border transfers of digital money

The Ministry of Finance of Japan is going to prepare in the near future rules for the foreign transfer of digital money.

According to the report of the newspaper Nihon Keizai on April 5, the Ministry of Finance plans to introduce rules under which notice to the authorities should be strictly mandatory if the cost of transferring money for a foreign transfer is more than 30 million yen.

It is said that the decision of the Ministry of Finance will facilitate the consideration of the real situation with operations abroad and is designed to curb money laundering operations.
Source: Alpari

I think it is a good news. Japanese government makes the right rule to prevent money laundering or misuse of money for the benefit of the bad guys or illegal activities. So, It will effects the market.

[mikyadel]

cryptocurrency field won't stabilize until governments put laws on using it ( to prevent money laundering and scam people ) . only then we can see green market again.

[gabmen]

Cryptocurrency was not made in future to favor governments regulatory authority and because of this we should not think that they are going to fold there hand and not fighting it.  Bitcoin and blockchain technology in future is going to take job from the man's hand and didn't think he would be happy for that, therefore, he is fighting with all his strength to keep his job.  Not only him but including the government officials,  bankers and financial analyst are going to be against bitcoin.

Many trying to let bitcoin down especially this year , but bitcoin is somehow we can't resist now as it is part of the innovation in technology that we find ease and as a bank who let us earn and save at the same time. The battle will always be present in it.

Well there are some experts who express really good feedback for the blockchain technology that backs crypto but not bitcoin. Though there are as much number of experts who think that bitcoin is here to stay along with other coins in crypto. Personally i'd vouch for the latter. Bitcoin will always be remebered as the one that put blockchain to people's consciousness. We may be down for now, but we still have a lot of room for growth in the coming years and we will grow.

[bangkit tri]

this is good news, i think Japanese government is increasingly paying attention to the development of cryptocurrency, so anticipated money laundering can anticipated from anonymous nature