{"id":2252,"date":"2017-04-10T09:56:14","date_gmt":"2017-04-10T09:56:14","guid":{"rendered":"https:\/\/blog.holytransaction.com\/?p=2252"},"modified":"2021-08-30T20:28:21","modified_gmt":"2021-08-30T18:28:21","slug":"bitcoin-japan-regulation","status":"publish","type":"post","link":"https:\/\/holytransaction.com\/blog\/2017\/04\/bitcoin-japan-regulation.html","title":{"rendered":"Bitcoin Japan Regulation: official recognized as method of payment"},"content":{"rendered":"<p><span style=\"font-weight: 400;\">On April 1st, 2017, <strong>Bitcoin Japan regulation<\/strong> was officially announced as the digital currency is finally recognized as a\u00a0method of payment.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">This Bitcoin legal classification <strong>will set a boom in its adoption<\/strong> as retailers will be able to accept the most popular digital currency. <\/span><\/p>\n<p><span style=\"font-weight: 400;\">In 2016, Japanese officials ended the <strong>8% consumption tax rate<\/strong> imposed on bitcoin purchasing on the digital currency exchanges. <\/span><\/p>\n<p><span style=\"font-weight: 400;\">This tax relief and the Bitcoin Japan regulation might help\u00a0to foster confidence in the digital currency industry, where there are <strong>4,200 merchants that accept bitcoin<\/strong>. This growth &#8211; merchants are quadrupled from 2015 &#8211; occurred in two years when Japan\u2019s cabinet decided to recognize bitcoin and digital currencies as the equivalent of money, in March 2016.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Payment processor Coincheck estimated that 20,000 merchants will be started to accept bitcoin this year. <\/span><\/p>\n<p><b>260,000 Bitcoin-accepting Retail Stores<\/b><\/p>\n<p><span style=\"font-weight: 400;\">According to the <\/span><a href=\"http:\/\/asia.nikkei.com\/Business\/Consumers\/Japanese-retailers-quickly-embracing-bitcoin-payments\"><span style=\"font-weight: 400;\">Asian magazine Nikkei<\/span><\/a><span style=\"font-weight: 400;\">, two Japanese retailing giants have started a few partnerships with bitcoin companies in order to accept bitcoin as a method of payment.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">One of these is <\/span><b>Recruit Lifestyle<\/b><span style=\"font-weight: 400;\">, the retail arm of conglomerate Recruit Holdings, that is partnering with Coincheck in order to introduce bitcoin payments.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Also, bitcoin will be soon included in AirRegi, a recruit-developed point-of-sale application that is used at <\/span><b>260,000 retail locations<\/b><span style=\"font-weight: 400;\"> across the whole Japan.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Customers will be able to use tablets and smartphones for paying bills with their bitcoin wallet and Coincheck will convert the digital currency into yen in order to transfer the fiat funds to the shop.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Also, <\/span><b>AirRegi is compatible with Alibaba\u2019s Alipay app for payments<\/b><span style=\"font-weight: 400;\">. Bitcoin\u2019s inclusion will be attractive for tourists who will be able to make payments in other countries without the burdens of foreign exchange.<\/span><\/p>\n<p><a href=\"https:\/\/holytransaction.com\/blog\/search\/japan\"><em>Click here to more about Bitcoin in Japan.\u00a0<\/em><\/a><\/p>\n<p>Open your free digital wallet <a href=\"https:\/\/holytransaction.com\/app#!\/signup\">here<\/a> to store your cryptocurrencies in a safe place.<\/p>\n<!-- AddThis Advanced Settings generic via filter on the_content --><!-- AddThis Share Buttons generic via filter on the_content -->","protected":false},"excerpt":{"rendered":"<p>On April 1st, 2017, Bitcoin Japan regulation was officially announced as the digital currency is finally recognized as a\u00a0method of payment. This Bitcoin legal classification will set a boom in its adoption as retailers will be able to accept the most popular digital currency. In 2016, Japanese officials ended the 8% consumption tax rate imposed [&hellip;]<!-- AddThis Advanced Settings generic via filter on get_the_excerpt --><!-- AddThis Share Buttons generic via filter on get_the_excerpt --><\/p>\n","protected":false},"author":2,"featured_media":845,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[37],"tags":[1042],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v19.6 (Yoast SEO v22.3) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Bitcoin Japan Regulation: official recognized as method of payment -<\/title>\n<meta name=\"description\" content=\"Bitcoin Japan regulation has moved on, as the Japanese government officially recognized bitcoin as a method of payment. 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