Japan Approves Self-Regulation for Cryptocurrency Industry

[Caelanpelley]

Japan is the world's leading developer of electronic money. The country accepts electronic payments in daily transactions. So Japan's acceptance of self-regulation for the electronics industry is coming to an end sooner or later. In other countries this will be slower.

[fauzan Ichsan]

Japan is the world's leading developer of electronic money. The country accepts electronic payments in daily transactions. So Japan's acceptance of self-regulation for the electronics industry is coming to an end sooner or later. In other countries this will be slower.

indeed, Japan will do everything to make cryptocurrency develop including selt-regulation in the industrial world. Japanese government policies certainly always support the development of crypto

[jack8989]

Japan’s primary financial regulator has formally granted the cryptocurrency industry with a self-regulatory status by allowing an industry body to police domestic exchanges. With the acquisition of the accreditation, they'll continue to make further efforts to create an industry that people can trust from everyone who uses virtual currency with members exchanges. Do you think we'll see this happening in other countries anytime soon?

I think they will not be able to do anything besides being whacked by the whales. We are currently being oppressed and unable to resist. Its capitalization is too big and it can do everything. Japanese should think of ways to prevent manipulation before entering this market.

[xIIImaL]

Japan is the world's leading developer of electronic money. The country accepts electronic payments in daily transactions. So Japan's acceptance of self-regulation for the electronics industry is coming to an end sooner or later. In other countries this will be slower.

Japan is crypto supporting country so they accept everything in this crypto platform. But other countries are discussing the different manner in crypto so economic development is major role in all the crypto regulation peoples are said in Bitcoin is always unique and individual so we should buy more crypto in today market.

[Gibreil]

Japan’s primary financial regulator has formally granted the cryptocurrency industry with a self-regulatory status by allowing an industry body to police domestic exchanges. With the acquisition of the accreditation, they'll continue to make further efforts to create an industry that people can trust from everyone who uses virtual currency with members exchanges. Do you think we'll see this happening in other countries anytime soon?

This is very interesting. I also think it is the best thing for the cryptocurrency. I believe this decision taken in Japan will limit the government's direct influence or control in the country while still ensuring that their is a regulation. This similar arrangement should also be implemented in other jurisdictions.

We should not believe easily to the news we saw in this forum. Some of the news have no basis and we know that those no basis can only be an opinion. It is not a fact coming from Japan unless otherwise it publish by legit media like CNN. Japan is an industrialized country and they want some innovation like cryptocurrency

[cizatext]

That is a great moves in the side of Japan to established a self regulatory cryptocurrency industry that will operate within a regulatory framework, and to see other countries adopting this kin of move will future strengthen the adoption of cryptocurrency and boost the confidence of the people to option into using cryptocurrency as their secondary currency.

[yusupjatigumilar]

Japan is one of the most influential countries in the world industry, I hope that Japan's current policy can encourage other countries to follow the policy, because if all countries can adopt policies like Japan then it is not impossible that crypto currencies will grow more significantly because of the increased trust of the community and SCAM actions I think it can also be more monitored

[Biscutard]

Japan is one of the most influential countries in the world industry, I hope that Japan's current policy can encourage other countries to follow the policy, because if all countries can adopt policies like Japan then it is not impossible that crypto currencies will grow more significantly because of the increased trust of the community and SCAM actions I think it can also be more monitored

This is just another step of Japan to become top of the list of most influential countries when we talk about cryptocurrency. Japan is always open for a new trend of technology where most of them are too hungry for new knowledge since they were on the top most of the world right now. But their knowledge seems to not yet contented due to the people's satisfaction.

[TheClownSong]

Japan’s primary financial regulator has formally granted the cryptocurrency industry with a self-regulatory status by allowing an industry body to police domestic exchanges. With the acquisition of the accreditation, they'll continue to make further efforts to create an industry that people can trust from everyone who uses virtual currency with members exchanges. Do you think we'll see this happening in other countries anytime soon?

I think its good news but in others side, government should involved when creating regulation. Government needed to protect investor money because in many country cryptocurrency still unregulated. We saw many scam ICOs this year and many investor lossing their money

[Siti Nurbaya]

Japan is one of the pioneers of bitcoin, so it's not surprising to agree to crypto settings.
Japan is a developed country with high technology and a smart society so the crypto industry can easily expand widely.

[omonuyak]

Japan’s primary financial regulator has formally granted the cryptocurrency industry with a self-regulatory status by allowing an industry body to police domestic exchanges. With the acquisition of the accreditation, they'll continue to make further efforts to create an industry that people can trust from everyone who uses virtual currency with members exchanges. Do you think we'll see this happening in other countries anytime soon?

we may not see this happening in another countriessoonest but this is a great developments and that is how it ought to be.  Japanese traders and investors are the one that makes bitcoin grow in 2017 and I think they are about to do the samething in 2019. Remember that Japan economics also grow in 2017 because of cryptocurrencies market and give self regulations is an indication that cryptocurrencies is here to stay!

[tetyulfania]

Japan is the best country always support of bitcoin, maybe we are still remember when Chinese banned for using bitcoin as transaction payment, but only Japan want to allow bitcoin as transaction payment.

[btc_angela]

Japan is the best country always support of bitcoin, maybe we are still remember when Chinese banned for using bitcoin as transaction payment, but only Japan want to allow bitcoin as transaction payment.

Of course they're the number bitcoin friendly since China made its U-turn. What made Japan stand out is their willingness to experiment things and even we have heard exchanges being hack in Japan, you can see the owners are willing to compensate them unlike other exchanges. So this news is very welcoming indeed and one step of the game or even a game changer decision by the Japanese government.

[Kevin77]

we may not see this happening in another countriessoonest but this is a great developments and that is how it ought to be.  Japanese traders and investors are the one that makes bitcoin grow in 2017 and I think they are about to do the samething in 2019.

I guess many countries have already started to study on this self-regulation as most of them are deliberately looking for what kind of regulation they are able to put on this crypto currencies space as this industry looks like beyond any control. I'm expecting a big success from this Japan's initiative so that other countries will be following it. I like this self-regulation as it will be ensuring the basics of decentralization is as far as I have understood.

Remember that Japan economics also grow in 2017 because of cryptocurrencies market and give self regulations is an indication that cryptocurrencies is here to stay!

Yes, that is now the case study for many European countries and they are all working on that. Crypto currencies are going to stay with us for sure but the question is how easily that is going to be. But, when seeing how Japan kind of countries are doing, I guess bitcoin may get into mainstream more smoother than we could imagine.

[Kakmakr]

The Japanese government is a lot more open-minded than most of the other countries in the world. They were the first government to accept Bitcoin as a currency, when other countries defined Bitcoin as a commodity.

Now they approve self-regulation with a currency that has the potential to be used for money laundering and also criminal activities and capital flight. We should applaud them for this and support them in this endeavor. Create mechanisms that would help to prevent this and also counter measures to catch the criminals that misuse this technology.   

[ufaiz50]

Japan’s primary financial regulator has formally granted the cryptocurrency industry with a self-regulatory status by allowing an industry body to police domestic exchanges. With the acquisition of the accreditation, they'll continue to make further efforts to create an industry that people can trust from everyone who uses virtual currency with members exchanges. Do you think we'll see this happening in other countries anytime soon?

I was a little hesitant and was surprised they entrusted self-regulation considering that many ordinary people saw bitcoin as a criminal tool, although, I'm quite happy there are countries that strongly believe in cryptocurrency. Other countries that follow to approve self-regulation I don't think there is and in my opinion India is the closest to cryptocurrency other than Japan, while news says that India is very strict in terms of regulating crypto.

[basyang]

Japan’s primary financial regulator has formally granted the cryptocurrency industry with a self-regulatory status by allowing an industry body to police domestic exchanges. With the acquisition of the accreditation, they'll continue to make further efforts to create an industry that people can trust from everyone who uses virtual currency with members exchanges. Do you think we'll see this happening in other countries anytime soon?

We, this is one of an informative topic here in the community. For me, Japan is an open-minded when it comes to innovation. Sometimes they are number one who accepted some digital things. They are also advanced in robotics or any things when it comes to technology thats why their country is well developed amd many high tech things was invented in their country.

[Naida_BR]

Japan’s primary financial regulator has formally granted the cryptocurrency industry with a self-regulatory status by allowing an industry body to police domestic exchanges. With the acquisition of the accreditation, they'll continue to make further efforts to create an industry that people can trust from everyone who uses virtual currency with members exchanges. Do you think we'll see this happening in other countries anytime soon?

These innovative changes usually come from Asia, as this time again. I really hope that we will see in the near future in other countries bodies like this one. Taking this into account, people will start trusting cryptocurrencies more because it can be noticed now that there is a huge gap due to the "war" that Financial institutions make to Bitcoin and other cryptos.
Maybe Japan can start promoting such pacts with other countries in a form of trading agreements.

[shinharu10282016]

The Japanese government is a lot more open-minded than most of the other countries in the world. They were the first government to accept Bitcoin as a currency, when other countries defined Bitcoin as a commodity.

Now they approve self-regulation with a currency that has the potential to be used for money laundering and also criminal activities and capital flight. We should applaud them for this and support them in this endeavor. Create mechanisms that would help to prevent this and also counter measures to catch the criminals that misuse this technology.   

I really think they indeed looked up into something about countermeasures about money laundering and criminal activities when accepting this self-regulation since they all want to play safe, just like what South Korea did with its legislation on cryptocurrency. In fact, if we haven't actually read their self regulation entirely, we should not be that sad since we are talking about these Japanese people.

[repsol]

That is great for crypto users especially, it means that crypto currency users can feel more secure by this acquisition.
Further we will see other countries as Japan's as the development of crypto users rapidly increase, it needs regulator from any authority to avoid crime and funds fraud.

However, crypto users don't need to be panic for not guaranteed by government because all are secure as long as the users keep the information account safe;y.