Japanese Ministry of Finance is going to prepare rules for cross-border transfers of digital money
The Ministry of Finance of Japan is going to prepare in the near future rules for the foreign transfer of digital money.
According to the report of the newspaper Nihon Keizai on April 5, the Ministry of Finance plans to introduce rules under which notice to the authorities should be strictly mandatory if the cost of transferring money for a foreign transfer is more than 30 million yen.
It is said that the decision of the Ministry of Finance will facilitate the consideration of the real situation with operations abroad and is designed to curb money laundering operations.
Source: Alpari
This has two parts:
Good News:
Its a good news to them. I mean it was really their desire to take over cryptocurrency since day one. When they knew that they will not gain economic-wise from this platform, they immediately come up with a solution and that is by regulation. But now this? They're taking this too far, talk about propaganda of some sort.
Bad News:
Maybe. I said it because, what if this could lessen or even eliminate the number of ICOs that tends to being a scam. I mean there are a lot of ICOs lately that are scams (one of the reasons why some countries ban cryptos and ICOs). But then again, its a bad news, because another thing that they regulate is the ability for people to share their ICO.