Japan Approves Set of Banking Bills that Recognizes Digital Currencies Similar to Real Money

Reports indicate that The Japenese Cabinet has recently approved a set of bills meant to allow banking groups to recognize digital currencies as having functions similar to those of fiat, while also allowing them to further expand their information technology businesses.

With this in mind, the revised banking bills will now allow banks and other financial institutions to acquire IT ventures, thus promoting the evolution of fintech, and allowing banks to try out new settlement systems and services promoted by fintech companies. This will lead to banking groups better consolidating their fund management systems, while also improving their overall efficiency.

As Bitcoin and other digital currencies are now considered asset-like values, they can be used for sending and receiving payments via the internet.

Click here to read the full story on themerkle.com


Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google+ photo

You are commenting using your Google+ account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )


Connecting to %s