Banks will be also be prohibited from handling bitcoins
Gains from trading bitcoins on online exchanges, purchases made with bitcoins and companies earning revenue from bitcoin transactions will be subject to Japanese tax ,,
The Japanese government will set rules for trading bitcoin, including imposing taxes on transactions with the virtual currency, that will become the basis for guidelines applicable to similar currencies in future.
Japan's government is still trying to explain the collapse of Mt Gox - once the world's once largest bitcoin exchange - and figure out how the Tokyo-based company could lose nearly half a billion dollars in bitcoins, Finance Minister Taro Aso said.
Mt Gox filed for bankruptcy protection in Japan on Friday, saying it may have lost some 850,000 bitcoins due to hacking into its faulty computer system.
The guidelines proposed by the Japanese cabinet will call for taxing bitcoin transactions, defining the virtual currency as a commodity rather than a currency, the Nikkei said.......
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it also make many other serious disease......so,youhave must try to proper use of it.Not only mobile phone but aslo everything.....
how
The inventor of the most famous cryptocurrency today – Bitcoin – attempted to build a “peer-to-peer electronic cash system”. This had been tried many times before but the main point of difference between Bitcoin and previous efforts like Digicash was that it was to be entirely decentralised. Without an overarching entity controlling the currency, the notion of “trust” would be removed from the system.
Not only mobile phone but aslo everything.....
Japan's government is still trying to explain the collapse of Mt Gox - once the world's once largest bitcoin exchange - and figure out how the Tokyo-based company could lose nearly half a billion dollars in bitcoins, Finance Minister Taro Aso said.
Mt Gox filed for bankruptcy protection in Japan on Friday, saying it may have lost some 850,000 bitcoins due to hacking into its faulty computer system.
The guidelines proposed by the Japanese cabinet will call for taxing bitcoin transactions, defining the virtual currency as a commodity rather than a currency, the Nikkei said..
The guidelines proposed by the Japanese cabinet will call for taxing bitcoin transactions, defining the virtual currency as a commodity rather than a currency, the Nikkei said.......
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Money is the root of the problem