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cheap wholesale jewelry etsy The Japan Financial Services (FSA) announced earlier that the revised version of the latest "Japan Payment Service Act" has passed and officially took effect on April 1, 2017. The service bill acknowledges that Bitcoin is a payment method and strictly supervised.
In this bill, the Legislative Council positions Bitcoin as the value of similar assets, not a currency. People can use it as a payment method for transactions.
The relevant units also requested that the service providers or exchanges operated by Bitcoin must register with the Japanese Prime Minister, and the capital scale cannot be less than 10 million yen. The system, as well as the establishment of a variety of systems and processes, involves work training, internal regulations, governance, and outsourcing guidance.
The amendment bill also revised the "Criminal Revenue Transfer Prevention Act". Regulatory agencies require the Japanese Bitcoin Exchange to implement the "understanding your customer" process more strict than the current. The exchange must check the identity of the account opening users, keep the transaction record, and report the records of suspicious transactions to the regulatory agency.