Bitcoin to remain unregulated in Japan for now - CoinDesk

FXStreet (Łódź) - The CoinDesk Analysis Team comment on Japan’s ruling Liberal Democratic Party's decision to leave the Bitcoin unregulated for the time being, despite calls for new legislation following the collapse of bitcoin exchange Mt. Gox.

Key quotes

"The Liberal Democratic Party (LDP) made the statement as an interim measure, but the final decision will be made after hearing 'more opinions' on the matter, said LDP lawmaker Takuya Hirai."

"Japan’s regulators argue that international collaboration is necessary due to the global nature of digital currencies, which easily transcend various jurisdictions and can be used to exploit loopholes in international law."

"The Liberal Democratic Party launched an investigative committee into bitcoin back in March, later issuing a statement saying that bitcoin is not a currency, but stressing that it remains taxable. Japan had started looking into ways of taxing bitcoin in the weeks following the Mt. Gox collapse."

"So far none of these efforts have resulted in new legislation for bitcoin or digital currencies in general. Judging by Hirai’s latest statement, the nation is certainly in no rush."

EUR/CHF hits 1-month low

The EUR/CHF fell to retest last month’s lows as the franc strengthened following the SNB decision to leave its rate at 0-0.25% and the EUR/CHF peg unchanged at 1.2000.
Leer más Previous

USDCAD testing the low end of the range - TD Securities

As the TD Securities FX research Team point out, USDCAD has emerged from the FOMC meeting in a little worse shape, reflecting the build up of hawkish expectations running into the Fed meeting that were ultimately disappointed by Chair Yellen’s rather balanced approach to the outlook.
Leer más Next