by Kenneth Schortgen, The Daily Economist:
On July 1, a new law went into effect which removes all taxation from the buying and selling of Bitcoin in the nation of Japan. And with their already having recognized the cryptocurrency as a viable medium of exchange within their monetary system, the world’s third largest economy has moved another step closer to recognizing Bitcoin as a legitimate currency.
Japan’s tax reform bill which officially eliminated consumption tax on the sale of Bitcoin came into effect on July 1. Bitcoin trading activities are expected to rise in Japan following the activation of the bill.