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  • 05.26.16

Japan will regulate bitcoin and other virtual currencies

Japanese lawmakers voted on Wednesday to regulate all virtual currencies, meaning that bitcoin other digital money will now fall under the purview of the country’s Financial Services Agency. 

Regulating virtual currency will make it easier for governments to respond to events like last year’s collapse of bitcoin exchange MtGox, in which some $480 million worth of bitcoin disappeared, leaving investors with steep losses and little recourse. RP