Japan’s new Bitcoin Law

From 1 April 2017, the Japanese Government will recognize Bitcoin as a legal payment system, it’s written into law.  The Bill also imposes regulation over the Bitcoin Exchanges in Japan.  These changes will ensure tighter oversight from the Financial Services Agency of Japan over the digital economy.  Regulation full steam ahead. Japan is leading the way with the introduction of the new Virtual Currency Act which is explained here – The Virtual Currency Act  However, it seems that virtual money poses an accounting dilemma for Japan’s early adopters – is it an asset or…

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