Japanese Regulator FSA Hears Arguments for not Calling Bitcoin a Virtual Currency

Minutes of a meeting held last month reveal discord over Bitcoin’s ultimate status for the Japanese regulator.

Japanese finance regulator the Financial Services Agency (FSA) no longer wishes to describe Bitcoin (BTC) as a virtual currency, Cointelegraph Japan reported on April 8, quoting minutes of a meeting originally held on March 4.

During a plenary session at the 41st General Assembly of the Financial Council and the 29th Financial Division Meeting, Professor Iwashita Goto of the Public Policy Graduate School of Kyoto University, petitioned members to adapt their view of Bitcoin.

The largest cryptocurrency, he argued, has become something beyond a means of transacting, due to its borderless qualities, which have led it to appear throughout the world in its ten-year history.

“I don’t think it would be worthwhile to call Bitcoin a virtual currency,” he summarized.

The comments come as Japan continues…

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2019-04-10 14:10:00

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Written by Cointelegraph

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