The changes would mean Bitcoin could be more tightly regulated and taxed, and are likely to lead to more investment in developing cryptocurrency infrastructure in Japan.
Japan considers Bitcoin a commodity. The new definition would consider anything that can be exchanged for goods and services or legal tender as a currency, bringing Bitcoin, dogecoin and many other cryptocurrencies into the fold.
Japan, the home of Mt. Gox, the Bitcoin exchange that folded in 2014 and lost coins worth hundreds of millions of pounds, has been looking for ways to keep a closer eye on cryptocurrencies and prevent another disaster.
The Paypers. All rights reserved. No part of this site can be reproduced
without explicit permission of The Paypers(V2.3).