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  • Japan Open For CRYPTO Currency

    Japan again goes all the way in adopting the crypto coins, predicting a huge demand for use that makes more than ten national companies to plan the launch of their own exchange market of Bitcoin and other cryptographic currencies .

    JAPAN BITCOIN



    This has been reported by the Nikkei Asian Review today, after SBI Holdings , the GMO Internet group ,Kabu.com Securities and the foreign company  Money Partners Group and  have made official Statements of  opening their own trading platforms. 

    As SBI Currency (Virtual) is ready to be launched and it will be offering exchange of Ethers and bitcoins.

    And, Other companies have also announced that, although they have started on the market with Bitcoin, but they are open to  adding other Crypto Currency depending on their demand ; So Japanese users are expected to have access to currencies like litecoin, ether or dash etc. 

    However, some ads are still at the project level and the Japanese community will have to wait for them to consolidate.

    LEGAL EXCHANGE HOUSES
    What is the reason for this sudden growth of exchange houses in the land of the rising sun? The answer is that since April 1 of this year, the use of bitcoin as a payment method in Japan has been made legal , so many changes have been taking place in the Asian territory in order to create a stable environment for the Adoption and use of digital coins.

    The main one of them has been the appreciation that was had on Bitcoin at national level, since after the case Mt.Gox  there was some suspicion in the use of crypto currency of massive form. However, today, thanks to the regulatory framework proposed by the Japanese government, there is a legal framework that protects both consumers and businesses from any kind of irregularities and losses , making the service of exchange houses a safe and reliable business.

    The representative of SBI Holdings said: "We did not have a minimum of regulations (as a country, in 2014). So now users are safer ", a context that allows the financial consortium to bet on the market of  Bitcoin and Ether.

    Also, thanks to the legalization of crypto coins, the Japanese government has also begun to promote licenses for companies specializing in the exchange of cryptographic coins. Such a move has resulted in 18 nationwide companies opting for such authorization , according to sources from the Japanese Crypto Coins Business Association. Among these companies are the 10 exchange houses that are in the process of enabling their services to the public and some of the already established, such as bitFlyer . However, at the moment, no bank has indicated its interest in working with cryptones.

    But this is not only left here, since the legal impact of Bitcoin has gone much further. The Japanese bankers' association has proposed the use of blockchain for the transfer of interbank funds, as well as a banking consortium of 56 Japanese financial institutions has begun testing with distributed accounting technology to reduce costs; Movement that represents a national adoption of great scope.

    Coupled with this, the National Diet of Japan has approved that Bitcoin be exempt from consumer taxes , since the currency is recognized by law as a means of liquidation. A question that frees the same, for the moments, of higher payments.

    In view of the fact that the Crypt-Coins and Blockchain have become the Japanese market in a legal, low-cost and trustworthy option, all this translates into a high demand forecast and a tangible possibility of citizen investment . Bitcoin has raised its prices considerably in recent years, and although its volatility is constant and notorious, more and more Japanese, and citizens of other nationalities around the world, bet on this currency as an investment method because of its growing economic value.

    Although in Japan the Crypto Currency are still a smaller market in the finance industry, and these have had  constant problems from the world's exchange houses , which could slow their growth; It is already a legal and mercantile reality that digital coins have opened a place in the Japanese economy.





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