Good news or bad news...

[shahzadafzal]

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

Can you please provide the link to the news? I have tried to google it but did not find any credible source except one news here https://asia.nikkei.com.

First thing I don't think this is possible. Essence of Bitcoin or any crypto currency lies in the border-less transactions. There is no way to find out if the transaction happening withing country or outside.

As per news is concerned I guess that would apply to local bank or country specific exchanges only. It could effect only when people try to buy or cash out crypto currency to fiat. Japan ministry can define rules for such transaction only.
I guess its already happening every exchange have set of certain rules for AML. Japan probably can make it standard for all exchanges and banks.

[1714172991]

1714172991

[lukmandog]

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

Japan is the nation that gives good news mostly in cryto world. that is the reason I join this business. if only no nation is friendly to crypto, I would not join this business, because crypto would be doubted as a safe investment.

[richardsNY]

Japan is the nation that gives good news mostly in cryto world. that is the reason I join this business. if only no nation is friendly to crypto, I would not join this business, because crypto would be doubted as a safe investment.

So you let the authorities decide for you what's 'safe' and what isn't? Pretty much explains why the majority of the people will remain a slave of this system for ever. You don't need the authorities to find and understand things that will bring you further in life. Bitcoin or basically crypto in its entirety allows YOU to be your own authority, which is something people don't realize yet. They will at some later point, but that will likely be close to the moment it will be too late to act. That exact aspect gives people the motivation/incentive to hold their coins through each and every market situation. I wish I found out about Bitcoin sooner, but at least I managed to get in somewhat early enough. Even today's buyers will later on be considered early birds....

[BTCappu]

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

Japan is the nation that gives good news mostly in cryto world. that is the reason I join this business. if only no nation is friendly to crypto, I would not join this business, because crypto would be doubted as a safe investment.

There are countries like that of japan who are taking very much serious interest in bitcoin and other crypto currencies and that their governments have taken lot of positive steps to promote bitcoin and to regulate them in their country. This is no doubt a very good news and that this will surely bring lot of positivity in the minds of the people and that people will then invest more money into it.

[nowlscor18]

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

For the investors that  new for this kind of income its a good news because they started to inveat an altcoin with a low price.And if someday it will rise again,wow they can achieve a highest rate of an income.

[zanzay]

I think it's a good policy for the Japanese government to deal with money laundering cases. Because Japan is a country that treats bitcoin, a digital currency (cryptocurrency) is like a typical currency. The legality, then drives the use of bitcoin as the underlying asset (base assets) of bonds.

[andreijoaquin]

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

Having a set policy over digital currencies is actually a good sign that adaptation of cryptos is being supported by the government. Some countries might be preparing their market and will soon embrace digital currencies. For me it is a good news and a sign that cryptos will go far and that we will be having a good market in the future.

[Quraline]

Large money transfers can always be divided into many small transfers. You do not have any reports.

[SirLancelot]

It’s a good news will encourage the liquidity of Crypto currency; Japan is a crypto friendly country have number of good crypto currency exchanges.

I think it is not only good news but it will knock other countries & in near future other countries will also take step to involve crypto currency into their economy.

At the present moment, it is only Japan that is understanding the future of digital currencies. Those people are well aware of the fact that with time, everything changes and in order to survive, those changes are supposed to be adopted. The quicker someone accepts them the easier his survivor becomes. Digital currencies are going to replace our traditional money methods.

[efxtrader]

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

From my opinion, there is something positive from that policy. That policy can avoid from criminal action like money laundrying and for goverment, that policy can prevent from massive outflow capital.

[Tan_avia)vl.]

If that's true, it's good news. I believe that Kriptorynok should be regulated, not banned. Japan is a very developed country, it is always ahead of the whole planet in the field of technology. They will show the world that it is better to regulate and develop kriptorynok than to escape from it and close.

[Sidiq SP]

I believe the decision of the Japanese finance ministry to bring a positive influence to kususnya Japanese citizens, because of the limits and in the presence of these rules will minimize negative actions, especially in terms of digital money, such as money laundering is currently very detrimental to us all, that's the opinion I am about this

[vaughn125]

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

Hmm.. Pretty interesting news but not that shocking. Come on guys, I'm pretty sure that most of us obviously have seen this coming. This was already bound to happen and is the only way to go for us to achieve mass adoption. Although I cannot say whether for me it is a good news or not since it has a couple of pros and cons with it, I can say that it will cause a lot of fuzz in the crypto industry and the fiat industry since cryptos are not that well known yet by most of this world's population. I just hope that the pros will outweigh all the cons in the near future.

[joromz1226]

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

It is indeed a good news  actually, because Japan want to prevent money laundering actually. This is where most of nation trying to resolve this things but it continuously happened. So in digital world or bitcoin world Japan don't want this things to be happen that's why they're doing this things.  

[kramchers]

Another fine news for the crypto community,
This will prevent money laundering and for the crypto world this is better than nothing,
i love those countries to regulate the bitcoin and other coins than pushing it into a ban.

[Nylelyn]

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

Looking forward to the implementation of this plan of Japan government to regulate bitcoin transfer. It will have positive effect on bitcoin since negative  comments will be minimize and it will boost bitcoin more. It also means that Japan trust that bitcoin will prevail and will be part of the lives of the Japanese and their economy.

[justdimin]

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 cannot say if it is a bad news or good news, but one thing is that they are doing it for a good cause which is to curb money laundering. However, when they are saying cross-border transfer, does this mean if I am planning to exchange making use of the exchange platform, because the last time I checked it was this main reason cryptocurrency came into play, where I can send bitcoin from wallet to wallet without any issue ?

I can also decide to find a way to buy bitcoin over the counter as the case may be unless that has been banned in Japan though, but in general, what happened to P2P transaction that would make the whole process easy for the government. Or am I missing something out here ?

[Pattberry]

Definitely a good news, it shows japan's government really supported and adapted bitcoin into their economy. It's good to put strict law to prevent money laundering that benefits their people and their economy.

I am not sure about the term money laundering being used when it comes to this market, the people dealing with illegal funds will always find a new way to do those activities and i hope it wont affect the free nature of the market, having restrictions on the movement of funds will cause disruption, i am waiting to see how the major economies are taking a stand on this market.

[Betwrong]

Of course this is a good news. The Japan's Ministry of Finance is going to take steps to ensure cryptocurrency transactions equivalent to more than 30,000,000  JPY (roughly 280,000 USD) were reported to officials if they are cross-border transactions. Steps like this can prevent associating BTC with money laundering, while we, regular users, will not suffer from this since we don't have such big amounts. Although I support free market and I hate when government intervenes in the privacy of small businesses, I think large size money laundering should be prevented because mostly it involves money stolen from working people.

[lili song]

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

For me is good news. Japan want prepare the rules for their future and to protect money laundry operations.
Japan country already legalized bitcoin, they know bitcoin in the future will grow and bitcoin can help them to do transactions for the industry.
I hope Japan can be sample for others country about bitcoin