As of July 1st, Japan has ended the 8% consumption tax on Bitcoin. The CEO of bitflyer, Yuzo Kano has said that this will have three ramifications. It will enable bitcoin exchanges to acquire bitcoins from abroad at cheaper prices. Japanese will be able to send bitcoin abroad because they no longer have to buy more expensive bitcoins, which made foreign transactions more costly. And finally, it will allow the Japanese to look at Bitcoin more like a currency, rather than something that is taxed differently.
Sounds to me like this is all great news for Bitcoin.
Read more here
Image from pixabay
