Japan has given up the fight against digital currencies and fully embraced Bitcoin this year. The Japanese Cabinet has officially approved a set of bills that will ease the integration process of digital money into the banking system #todaymagic
After Mt.Gox collaps in 2014, Bitcoin was seen as a sure way of getting away with laundering money and fraud. Now, Japanese officials are trying to stabilize their economy by all means, as risky as they appear at first. That’s why they can’t pass the opportunity to benefit after the economic gains triggered by the “Fintech” industry online. Through these bills, banks in Japan will join the “Fintech” system.
Coincheck, one Bitcoin exchange, and others like it, will have to register with the Financial Services Agency. Afterwards, Japanese people will be able to make payments online, without having to convert money before. Thats a huge step forward for Bitcoins as common, normal, forms of payment.