Forex reserves surge USD 5.4 bn to all-time high of USD ...

Starting today, Bitcoins are an official Method of Payment in Japan and they've dropped the 8% consumption tax on buying them

This is an automatic summary, original reduced by 76%.
According to the world's largest bitcoin exchange by volume, Bitflyer, "Section 3 of this bill now includes wording on virtual currency [VC] and is being tentatively called the 'Virtual Currency Act'." It defines digital currencies including Bitcoin for the first time and recognizes them as a method of payment.
Profits from bitcoin trading can be considered "Income from business activities or miscellaneous income." The asset-like nature of Bitcoin means that it is also subject to capital gains tax in Japan.
Since the announcement that this law would go into effect on April 1, major bitcoin exchanges have rushed to inform their customers of upcoming new KYC procedures.
DLA Piper Law Firm.The land of the rising sun has a unique history with Bitcoin that was complicated by the 2013 rise and fall of the world's leading bitcoin exchange at the time, Tokyo's MtGox.
"The Japanese people had a terrible image toward bitcoin, thinking that Mt. Gox WAS Bitcoin!," explains Kagayaki Kawabata, Coincheck Business Development Lead. "However, the situation has changed in the past few years. Today, the amount of Japanese citizens who think of bitcoin as superior technology is increasing."
The largest Internet Service Provider and online forex market provider has an investment in the largest bitcoin exchange, Bitflyer, and is developing an upcoming Bitcoin exchange and wallet service.
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