End of Japan’s Bitcoin Sales Tax Will Slash Costs for Bitcoin Users
A proposed plan to end sales-tax collection on purchases of virtual currencies in Japan will likely propel the growth of Bitcoin and other digital currencies as alternatives to fiat according to a report by Nikkei. After the news, more exchange traders were reported joining the Bitcoin’s bandwagon. The market research firm, Seed Planning, estimating the Bitcoin's annual trading volume will soar to 2 trln yen this year. This move could slash costs for buyers and will be another incentive that would motivate existing Bitcoin users in the country that has been described as one of the first to....
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