Japan’s new regulations launched by the government within the first month received 18 bitcoin exchange for
With the increase of bitcoin investment, the government officially recognized as legal bitcoin payment. Japan’s domestic currency trading volume rose encryption.
Japan bitcoin market share in the global market share increased further, the user needs to complete the transaction in accordance with the provisions of the legal procedures.
The law will be exempt from the use of encryption currency consumption tax, in order to improve the country’s currency rate using encryption. From the yen trading volume growing can be seen, the current global bitcoin market in Japan ranked first.
In Japan, for all the requirements of compliance bitcoin transactions is very high, including the submission of 3 years of business plan, isolation fund management, KYC/AML requirements, frequent petitions power, external audit and at least 10 million yen in capital reserve.
However, in the harsh conditions, the first month in Japan there are 18 bitcoin exchange application does not stop issuing 500 million yen of capital reserve GM online coins.
In general, the launch of the new law in Japan can bring huge benefits to domestic bitcoin trading.
The GMO-Z team has marked coins in its statement:
In recent years, Japan’s use of bitcoin transactions such as virtual currency progress in personal and business international remittance and settlement transactions in Japan, the virtual currency market by professional analysts may reach 1 trillion yen in the next few years.”
In Japan, the revised “capital clearing method” has determined consumer protection regulations, the law took effect on April 2017.
The Japanese government introduced a registration system, requires the establishment of a correct and reliable development of bitcoin exchange system.
In addition, since July 2017, the virtual currency transfer of consumption tax will also be eliminated, so the amount of virtual currency is expected to show exponential expansion.