Japan dominates Bitcoin market. Future of the digital currency in the country is brilliant!

N. Future of the digital currency in the country is brilliant! Japan dominates Bitcoin market. Future of the digital currency in the country is brilliant! Jansen May 15, 2017 One of the most difficult places to do business as a Westerner in Asia is Japan. The Japanese take pedantry and adherence to the process to incredible levels. "Common sense" does not enter into the equation. Lack of space makes it all methodically slow, and painfully frustrating for someone impatient. That is why Bitcoin's regulatory acceptance in Japan is astounding. Bitcoin's breakthrough in Japan is especially surprising given that Singapore and Hong Kong profess to be epicenters of advanced financial services. In retrospect, the bankrupt MtGox is paying dividends in the long run. The Japanese received one of the largest frauds and bankruptcies in the history of mankind, forcing them to create a regulatory framework for Bitcoin and digital currency exchange. In Asia, Japan has a history of adopting technological change ahead of its peers. Japan was the first Asian nation to industrialize in the late nineteenth and early twentieth centuries. This allowed them to enact the Asian version of the Monroe Doctrine, much to the chagrin of China and South Korea.

A bright and free future for Bitcoin in Japan

On July 1, Bitcoin's sales tax will disappear and a new regulatory framework for crypto-coins will enter into force. The scholarships now have a green card to operate in the country. The big Japanese banks are also comfortable with Bitcoin, since they have stakes in all major exchanges. With solid banking relationships and a supporting government, Japan will become the most hospitable home to Bitcoin's global trade. The Japanese are prolific FX traders. Some of the largest CFD trading houses plan to launch Bitcoin / JPY leverage products in July 2017. The amount of money that can flow legally to Bitcoin and projects related to the digital currency is billions of dollars. Withholding sales tax will allow market makers to adequately provide ample liquidity to the market.

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