{"id":83,"date":"2016-02-24T17:30:00","date_gmt":"2016-02-24T17:30:00","guid":{"rendered":"http:\/\/blog.holytransaction.com\/japan-wants-to-regulate-bitcoin-as-currency\/"},"modified":"2020-11-09T13:00:23","modified_gmt":"2020-11-09T11:00:23","slug":"japan-wants-to-regulate-bitcoin-as-currency","status":"publish","type":"post","link":"https:\/\/holytransaction.com\/blog\/2016\/02\/japan-wants-to-regulate-bitcoin-as-currency.html","title":{"rendered":"Japan wants to regulate Bitcoin as Currency"},"content":{"rendered":"
\"japan<\/a><\/div>\n
Yesterday we read about the decision of an American judge to define bitcoin as property, as according to him bitcoin<\/a> is a “intangible personal property rather than a currency<\/i>\u201d<\/a>.<\/div>\n
\u00a0<\/b><\/div>\n
\n
This is a very important matter on which lots of words have been spent since Satoshi Nakamoto invented this cryptocurrency. In fact, this definition has a lot of implications on how bitcoin is regulated, especially in terms of VAT and taxation in general.<\/div>\n<\/div>\n
\u00a0<\/b><\/div>\n
\n
Well, today Japanese regulators stated the decision to propose bitcoin among the methods of payments, so to define the digital cryptocurrencies as conventional currency.<\/div>\n<\/div>\n
\u00a0<\/b><\/div>\n
\n
In fact, Japan\u2019s Financial Services Agency (FSA) wants to make \u201crevisions to legislation that would classify digital currencies as fulfilling the functions of currency”, reported Coindesk.<\/div>\n<\/div>\n
\n
At the moment Japan recognizes bitcoin as a property and not as a currency, but:<\/div>\n<\/div>\n
\n
“Under the FSA’s proposed definition, virtual currencies must serve as a medium of exchange, meaning that they can be used to purchase goods and services. They must also be exchangeable for legal tender through purchases or trades with an unspecified partner\u201d, said an article by Nikkei<\/a>.<\/div>\n<\/div>\n
<\/div>\n
This possible modification might be submitted during the current legislative session of the Japanese legislature which runs from 4th January to 1st June, even though this it is not official yet.<\/div>\n
<\/div>\n
<\/div>\n

About the author:<\/u> Amelia Tomasicchio<\/a> is a writer and a journalist of Bitcoin-related news and articles. She started writing about Bitcoin in 2014 and she graduated in Rome with an essay about movie industry related to Bitcoin.<\/em><\/p>\n

Open your free digital wallet here<\/a> to store your cryptocurrencies in a safe place.<\/p>\n","protected":false},"excerpt":{"rendered":"

Yesterday we read about the decision of an American judge to define bitcoin as property, as according to him bitcoin is a “intangible personal property rather than a currency\u201d. \u00a0 This is a very important matter on which lots of words have been spent since Satoshi Nakamoto invented this cryptocurrency. In fact, this definition has […]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[37,76,170,197,376,529,542],"tags":[764,853,876,1042,1186,1201],"yoast_head":"\nJapan wants to regulate Bitcoin as Currency -<\/title>\n<meta name=\"description\" content=\"Japan\u2019s FSA wants to make revisions to legislation that would classify digital currencies as fulfilling the functions of currency.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/holytransaction.com\/blog\/2016\/02\/japan-wants-to-regulate-bitcoin-as-currency.html\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Japan wants to regulate Bitcoin as Currency\" \/>\n<meta property=\"og:description\" content=\"Japan\u2019s FSA wants to make revisions to legislation that would classify digital currencies as fulfilling the functions of currency.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/holytransaction.com\/blog\/2016\/02\/japan-wants-to-regulate-bitcoin-as-currency.html\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/facebook.com\/holytransaction\" \/>\n<meta property=\"article:author\" content=\"facebook.com\/ameliatomasicchiomarketing\" \/>\n<meta property=\"article:published_time\" content=\"2016-02-24T17:30:00+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2020-11-09T11:00:23+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/holytransaction.com\/blog\/wp-content\/uploads\/2016\/05\/Japan_Bitcoin_Sun-300x225.jpg\" \/>\n<meta name=\"author\" content=\"Amelia Tomasicchio\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@ametomasicchio\" \/>\n<meta name=\"twitter:site\" content=\"@holytransaction\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Amelia Tomasicchio\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/holytransaction.com\/blog\/2016\/02\/japan-wants-to-regulate-bitcoin-as-currency.html\",\"url\":\"https:\/\/holytransaction.com\/blog\/2016\/02\/japan-wants-to-regulate-bitcoin-as-currency.html\",\"name\":\"Japan wants to regulate Bitcoin as Currency -\",\"isPartOf\":{\"@id\":\"https:\/\/holytransaction.com\/blog\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/holytransaction.com\/blog\/2016\/02\/japan-wants-to-regulate-bitcoin-as-currency.html#primaryimage\"},\"image\":{\"@id\":\"https:\/\/holytransaction.com\/blog\/2016\/02\/japan-wants-to-regulate-bitcoin-as-currency.html#primaryimage\"},\"thumbnailUrl\":\"https:\/\/holytransaction.com\/blog\/wp-content\/uploads\/2016\/05\/Japan_Bitcoin_Sun-300x225.jpg\",\"datePublished\":\"2016-02-24T17:30:00+00:00\",\"dateModified\":\"2020-11-09T11:00:23+00:00\",\"author\":{\"@id\":\"https:\/\/holytransaction.com\/blog\/#\/schema\/person\/eface1991a1e60913be2fff06e08e42c\"},\"description\":\"Japan\u2019s FSA wants to make revisions to legislation that would classify digital currencies as fulfilling the functions of currency.\",\"breadcrumb\":{\"@id\":\"https:\/\/holytransaction.com\/blog\/2016\/02\/japan-wants-to-regulate-bitcoin-as-currency.html#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/holytransaction.com\/blog\/2016\/02\/japan-wants-to-regulate-bitcoin-as-currency.html\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/holytransaction.com\/blog\/2016\/02\/japan-wants-to-regulate-bitcoin-as-currency.html#primaryimage\",\"url\":\"https:\/\/holytransaction.com\/blog\/wp-content\/uploads\/2016\/05\/Japan_Bitcoin_Sun-300x225.jpg\",\"contentUrl\":\"https:\/\/holytransaction.com\/blog\/wp-content\/uploads\/2016\/05\/Japan_Bitcoin_Sun-300x225.jpg\"},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/holytransaction.com\/blog\/2016\/02\/japan-wants-to-regulate-bitcoin-as-currency.html#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/holytransaction.com\/blog\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"bitcoin\",\"item\":\"https:\/\/holytransaction.com\/blog\/tag\/bitcoin\"},{\"@type\":\"ListItem\",\"position\":3,\"name\":\"Japan wants to regulate Bitcoin as Currency\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/holytransaction.com\/blog\/#website\",\"url\":\"https:\/\/holytransaction.com\/blog\/\",\"name\":\"\",\"description\":\"HolyTransaction's Blog - 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