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Japan Officially Recognizes Bitcoin and Digital Currencies as Money

Japan Officially Recognizes Bitcoin and Digital Currencies as Money

#Japanesebanks are set for embracing #Bitcoin after proposed new laws. Has Bitcoin finally come of age in the land of the rising sun?

On March 4, 2016, The Japan Times reported that the Cabinet in Japan had approved a series of bills which would help the banking sector expand their reach when it comes to Information Technology businesses. This intertwining of banking and IT are called ‘FinTech’ in emerging parlance.

Interestingly, the cabinet also takes into stock the rising importance of virtual currencies and the new bills will recognize them as a means of making payments and having the potential to be digitally transferred.

Japan has just given #virtualcurrencies legitimacy, something that many other nations are still struggling to come to terms with........

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