The Japanese authorities have put a lot of interest in legalizing the use of Bitcoin BTC, as a method of payment in the Japanese country.
To make it possible for bitcoin cryptocurrency to become a legal payment method in Japan, this technology must be reviewed by a group of regulations agreed by the FSA (Financial Services Agency of Japan), which will be extended to exchange offices and any service that manages customers' virtual money.
Some of these regulations promoted by the Japanese government include procedures and administrative and legal requirements for the service loan of any business established in Japan, up to prevention standards to transfer funds from illicit activities and money laundering.
Although the legalization of Bitcoin in the Asian country is a big step for the cryptocurrency and for the ecosystem, it also has its drawbacks.
The proposed law to the FSA contemplates Bitcoin as payment method, but not as a currency as such.
The new law defines Bitcoin and other cryptocurrencies as a method of payment, but does not recognize it as a legal currency.
Added to my follow list. Keep up the good work and what do you think of the current market?
The market has been a little complex these days, making corrections necessary for a new rise ... thanks @cryptoissweet for commenting
Good job!!
Gracias por comentar @rmalave