Bitcoin is being embraced in many countries in the world who are now focusing on draft bills, legislation, and regulation. Switzerland, China, Estonia, India, Russia, Malta, Philippines, Antigua and Barbuda, South Korea … and Japan!
Japan – 1 April 2017, a new law actioned making Bitcoin a legal payment system giving the government Tighter oversight from the Financial Services Agency. An Introduction of the new Virtual Currency Act followed and The Accounting Standards Board working on a framework for treatment of virtual currency.
What was the spin off from this Governmental decisions? Major Retailers such as Bic Camera and Recruit Lifestyle, embracing Bitcoin as a payment system and Extending Bitcoin payments into Loyalty programs driving Bitcoin adoption.
Partnering with Bitcoin Exchanges with payment options such as BitFlyer and CoinCheck, enabling over 260,000 merchants
The three biggest Banks invested in Bitcoin Exchanges as a Massive adoption of Bitcoin is underway with over 50% of the daily fiat to Bitcoin trading volume is in Japanese Yen.
Speculation that some major Japanese banks will start trading bitcoin as a currency like the Yen, Dollar and Euro
Company share prices increasing in value due to links with digital currencies
“Mrs Watanabe” is interested… The Retail Investor! Traditionally a Japanese housewife accumulating forex for a better return
Low-interest rates and diminishing Government Pension Fund driving investment in Bitcoin
Bitcoin is also driving tourism… Peach Airline taking Bitcoin payments! Time to travel to Japan!
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Read More: The Top Ten Drivers of the Bitcoin Price
Which Government is going to be the next domino? Please leave your comments below:
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