• support@holytransaction.com

Japan’s ruling party says won’t regulate bitcoin for now

Japan’s ruling party says won’t regulate bitcoin for now

A man walks past a building where Mt. Gox, a digital marketplace operator, is housed in Tokyo February 25, 2014. REUTERS/Toru Hanai
A man walks past a building where Mt. Gox, a
digital marketplace operator, is housed in Tokyo February 25, 2014.
(Reuters) –
Japan’s leading Liberal Democratic Party said it decided against
regulating bitcoin for the time being, after the collapse of Tokyo-based
bitcoin exchange Mt.Gox prompted them to consider more scrutiny of the
virtual currency.
Mt.Gox, once the world’s biggest bitcoin exchange, filed for bankruptcy in February after saying hackers stole 750,000 bitcoins belonging to its customers. 
“Basically,
we concluded that we will, for now, avoid a move towards legal
regulation,” Takuya Hirai, an LDP lawmaker who leads the party’s
internet media division, said on Thursday, adding that a final decision
would be made after hearing more opinions on the subject
The use of electronic currencies
has drawn the attention of governments around the world who are unsure
whether, and how, to regulate them. U.S. agencies ranging from the New
York bank regulator to the Commodity Futures Trading Commission have also been looking into possible regulation.
A
task force of U.S. state regulators is also working on the first
bitcoin rulebook, hoping to protect users of virtual currency from fraud
without smothering the fledgling technology.

Open your free digital wallet here to store your cryptocurrencies in a safe place.

Satoshi
Satoshi

Leave a Comment