Japan Bitcoin Should be Taxed

Japan Bitcoin Should be Taxed.

The Japanese government have discussed Bitcoin and its circulation around the world. They said they do not believe that Bitcoin is a currency, but some transactions should be taxed.

The Japanese government is currently trying to determine the amount of Bitcoin’s currently in circulation around the world and how much they are valued at.

The government has also said that banks cannot offer Bitcoin as a product to customers.

Bitcoin is classed as a crypto currency (virtual currency) and is earned/mined using computer algorithms.

The global market for Bitcoins is currently valued at around £4.2bn ($7bn).

Countries around the world are attempting to find ways of regulating Bitcoin with some seeing it as a means of tax evasion or money laundering.