In a positive note, Japan is the latest country to open its arms to welcome Bitcoin.
Seen As A Broader Branch Of FinTech
In Japan, cryptocurrency which is on the rise – is seen as a broader branch FinTech. It is also keen to help entrepreneurs to further their aspirations to launch their startups by making full use of the latest financial tools available at hand. Guess it is much to do with distancing themselves from the traditional way of doing business, into the latest trends of happenings in the world.
Seal Of Approval By Financial Services Agency
The Financial Services Agency, is the Japanese government agency and an integrated financial regulator responsible for overseeing banking, securities and exchange, and insurance sectors in order to ensure the stability of the financial system of Japan.
It does require all Bitcoin exchanger and remittance operators to be licensed for them to operate legally in Japan.
Beneficial to Consumers and Business Owners
The ruling allows for the people on the streets to pay using Bitcoin, that open the floodgates to a large number of stores now accepting Bitcoin. This is seen as a catalyst for consumer by encouraging them to spend and for business owners to have promotions in exchange for accepting Bitcoin.
No Longer Seen As Scary
The Japanese have a way of balancing technological advancements with precaution as to not lost their identity, and Bitcoin or cryptocurrency have always been seen as evil and scary. But with the latest Japanese government’s approval, that is all set to change.
Boosting The Economy With Bitcoin
With the Japanese economy not doing very well, it is hoped that with this piece of good news; all is set to take a turn for the better. It is said that there are huge cash reserves that are sleeping in banks, and
Category: Team WhaTechCompany profile: Tech junkie by profession and passionate about anything from the digital world, movies, games and reading. He loves writing and hopes you enjoy his writing as much as he does. Eza, is also known as Don in the virtual world, but don’t him me wrong, he's not a mafia type he's really a nice chap and a devout family guy.