Interesting move by the Japanese government, but it undermines the core tenants of cryptocurrency, namely, a decentralized and trust-less medium of exchange and storage of value. It appears to me that the authorities have realized that an enormous wave of change is approaching and are keen to maintain a degree of control over the country's wealth and its position within the global economy. Further, the fact that this is a reactionary move means that the government is trying to play catch up in an environment where the technology is beginning to develop at a blistering pace; and governments by their very nature, tend to get bogged down by bureaucracy.
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