US and Japan at odds over Bitcoin’s future as a currency
In the wake of such widely-reported scandals as the implosion of the Tokyo-based exchange, Mt Gox, which resulted in a loss of almost 600,000 million US dollars’ worth of bitcoins with the company’s operators now facing legal action all over the world, Kuroda’s doubts are certainly justifiable. Kuroda went on to say: “It is not a currency, and I don’t think it is a general means of settlement. Without safety or stability in its value, there would be no demand. In that sense, it cannot be a currency.” Mt Gox was one of the most trusted exchanges for Bitcoin transactions prior to its....
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The hottest topic in the Bitcoin space in 2017 is if Wall Street will get in the game through a Bitcoin ETF. As this decision is now just one week away, the odds of acceptance have shifted more in its favor than ever before. Bitcoin ETF Odds Highest Ever. Over the last couple of months, since this decision timetable became public knowledge, the odds have been long against the ETF, brought forth by the Winklevoss Twins three years ago, gaining Securities Exchange Commission approval. Odds have consistently been rated at 25% or less. However, now that you can vote on these odds, things have....
Governor of the Bank of Japan Haruhiko Kuroda has cast doubts on bitcoin's future as a currency. "Without safety or stability in its value, there would be no demand. In that sense, it cannot be a currency," he told reporters after a central bank policy meeting. Kuroda added: "It is not a currency, and I don't think it is a general means of settlement,". Kuroda's comments, which were reported in the The Economic Times, come after nationwide shock in Japan at the bankruptcy of the now-infamous exchange, Mt. Gox, which was based in Tokyo, and other recent bad news for bitcoin, such as....
GMO has a very wide reach in Japan, as they are the largest credit card payment processor to date. Japan continues to make significant strides in the Bitcoin department. With the trading volume on the rise recently, it becomes more important for users to have access to a proper Bitcoin wallet. GMO, one of Japan’s largest internet companies, is launching their own cryptocurrency wallet service. This is a major validation of Bitcoin as a currency, and heralds bigger and better things to come for cryptocurrency in Japan.. Up until this point, Japan has been somewhat quiet on the Bitcoin....
Japan recently made headlines by announcing that its government was considering defining Bitcoin and other digital currencies as currency rather than commodity. This was confirmed by Tomonori Kanda, representing the financial affairs section of the Liberation Democratic Party (LDP). He told The Guardian that the plan was to bring the matter up in Parliament. Even after the Mt. Gox fiasco, Japan recognized Bitcoin’s potential two years ago, and asked members within the Bitcoin and blockchain industry to form a self-regulatory authority called the Japan Authority of Digital Assets (JADA).....
Everyone in the Bitcoin community knows Japan has been a hub of activity. The largest Bitcoin exchange, Mt.Gox, was stationed in Japan until it collapsed and its CEO, Mark Karpelès, was arrested. But not everything in Japan related to Bitcoin has been negative. Nor have these incidents stopped the growth of Bitcoin. The Land of the Rising Sun has indeed....