Posted 03/07/2014 at 8:55 AM
Posted 3 years ago
Japan has weighed in on the Bitcoin debate and they have decided that Bitcoin is not a currency.
Regulators in Japan have said that Bitcoin cannot be used as currency.
Japanese authorities decided to take a look at Bitcoin after the Mt. Gox fiasco.
The new decision stops commercial banks from using Bitcoin, and any other use of Bitcoin will be subject to a sales tax.