Japan is set to become the primary battlefield for virtual currency blockchain technology in 2018. Of all the countries in the world, Japan has made the most progress In legitimizing the use of cryptocurrencies like Bitcoin in everyday life.
For example, the Virtual Currency Act described and identified what a virtual currency is and clarified that bitcoin can indeed be considered an asset and method of payment. Meanwhile, the Japan Financial Services Authority has been granted the ability to both regulate, as well as issue licenses, to virtual currency exchanges in Japan.
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