We Don’t Have Any Big Problem With The Bitcoin So Far-Bank Of Japan?
The Bank Of Japan Has No Problem With Cryptocurrency Casinos? What a headline! Isn’t it a nice thing to read such a title during a time various governments are imposing strict rules? Definitely! So far, the Bank of Japan does not have any problem with a particular cryptocurrency. In the past few weeks, different governments have been acting strangely to digital coins. Led by South Korea, many states have shown their displeasure. They have imposed strict rules that aim at limiting the business.
Does The Bank Of Japan Like Cryptocurrency Casinos?
When imposing the rules, most of these governments say that they are merely monitoring. In other words, all these states are saying that they are just regulating. They are not abolishing. But when you look at the actual rules, the opposite is true. What is funny is that BOJ is making this announcement amid calls from world leaders to contain the bitcoin. On its part, the BOJ says that it has no problem with the bitcoin and any crypto so far. Hiromi Yamaoka, the Director-General of Payment in the banks agrees that there are calls. But he also said something beautiful. According to him, he doesn’t see a problem.
Growing Interest Among Global Policymakers
“There’s undoubtedly growing interest among global policymakers on how to deal with cryptocurrencies. Japan’s approach would be to think about how to curb excesses without discouraging innovation,” Yamaoka told Reuters. Japan, with almost 7, 000 islands, is a seemingly thriving market for the bitcoin. It is true that there is pay per head businesses in the country. But cryptocurrency business is taking a toll.
Is Bitcoin Legal In Japan?
Bitcoin is legal in Japan. There is another thing that you need to know about this country. Japan is the third largest world economy. It would be ideal to join other countries like South Korea, France, and the U.S. But the country says that it has no opposition to the bitcoin. In fact, according to the Director-General of Payment, digital coins are becoming popular.
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Will The Bank Of Japan Continue To Allow Cryptocurrency Casinos?
While Japan has a liberal approach to the bitcoin, several ‘first world’ countries are calling for strict measures. In fact, they even want digital coins abolished utterly. Nobody is sure what will happen next. What is funny is that the bitcoin was born in 2009. Although there has been speculation and some form of opposition, malign neglect started recently, which is evident because the price of the bitcoin hit $20, 000 in 2017. And when several analysts say the cryptocurrency will run $50, 000 in 2018, it pains governments even more.
2018 has been a rough year for Bitcoin and other cryptocurrencies. There has not been much news out of Japan since Bitcoin officially has been in a bear market. Having said that, many people and banks in Japan have very high hopes for Bitcoin and other altcoins for 2019, 2020 and the years ahead.
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