Japan Is Winning the Race in Bitcoin Regulation

Japan has announced that it would start a full surveillance in cryptocurrency operations, and that means the following: proper internal systems that provide transactions security and protect customers. Last moth there was recruited a surveillance team consisting of 30 persons, the main task of the team is to review how customers assets are managed and which measures are used for protection from cyber crimes.

The development of the national regulation policy started three years ago and is still in process. The famous Mt.Gox scandal though showed that more steps are needed to make the field completely regulated and secure. The first realistic step in regulation would be internal regulation introduction to protect fraudster and money laundering.

The legislation development started in 2016 and is to be completed in April 2017, when the government of Japan will accept bitcoin as a normal payment & transaction method, hence, will open for the cryptocurrency the door in the market as a completely independent and rightful currency.

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