Virtual currency Japan

1.

virtual currency is the currency used for electronic circulation. Now the scope of virtual currency is very large, including q-coin, bitcoin and so on. With the development of digital currency, virtual currency is becoming more and more abundant, which may become the mainstream in the future. For example, BTC, EOS, bcbot and so on are not only virtual currencies, but also algorithms, landing projects and technologies

virtual currency is mainly issued by online game service providers to purchase game props, such as equipment, clothing, etc. But at present, the use of virtual currency has gone far beyond this category. Virtual currency can be used to buy game cards, physical objects and download services of some movies and software

extended data:

real risk

as the proct of e-commerce, virtual currency has begun to play an increasingly important role, and it is more and more connected with the real world. However, with the growth of virtual currency, the relevant laws and regulations are lagging behind, which has laid many hidden dangers

fraud

the private transaction of online virtual currency has realized the two-way circulation between virtual currency and RMB to a certain extent. The activity of these traders is to buy all kinds of virtual currencies and procts at a low price, and then sell them at a high price to earn profits. With the increase of such transactions, there are even virtual mints. In addition to the virtual currency provided by the main company, there are also some people who specialize in "virtual coin making" to obtain virtual currency by playing games and then resell it to other players

Taking Wenzhou as an example, there are about seven or eight such "virtual mints" with four or five hundred practitioners. This not only creates a bubble for the price of the virtual currency itself, but also causes trouble for the normal sale of the issuing company. It also provides a platform for selling and collecting money and money laundering for various cyber crimes. p>

impact system

in modern financial system, the issuers of money are generally central banks, which are responsible for the management and supervision of money operation. As the equivalent exchange goods used to replace the real currency circulation on the Internet, the virtual currency on the Internet is essentially the same as the real currency. The difference is that the issuers are no longer central banks, but Internet companies

if the development of virtual currency makes it form a unified market, each company can exchange with each other, or virtual currency is integrated and unified, and all of them are based on the same standard and price, then in a sense, virtual currency is currency, which is likely to form a threat impact on the traditional financial system or economic operation

reference: network virtual currency

2.

Japan is also the first country in the world to legislate on virtual currency. Just in April last year, Japan's "change of capital payment law" was formally established. Virtual currency is defined as having the function of currency and can be used for monetary payment. Moreover, some time ago, the tycoons of the domestic currency circle also went to Japan one after another to learn from Japan

Finally, the popularity of virtual currency in Japan is also the intentional guidance of the Japanese government. The emergence of virtual currency gives the Japanese government a new "future". The Japanese government hopes to establish a monetary system independent of the U.S. regulation through virtual currency, so as to revive its so-called great power status

however, we should also see that Japan's too loose virtual monetary environment has also led to many negative problems. For example, the frequent theft of virtual currency makes the Japanese government have to intervene in the asset security of the virtual currency market. As a result, Japan has strengthened the supervision of virtual currency, and the virtual currency market has become a bit quiet - exchanges such as hotcoin and BIGone have even given up Japanese language services

3. In 2017, the financial department of Japan officially issued the digital currency exchange operation license to the first batch of applicants. Japan has established regulations on the supervision of digital currency dealers, and has made clear the operational guidelines for digital currency dealers
the FSA said that it would put Japan's digital currency exchange under a comprehensive regulatory framework, including monitoring the internal system of the exchange, checking the customer asset protection mechanism, and possible on-site inspection. At the same time, the FSA requires digital currency exchanges including bitcoin to implement a more stringent KYC policy than at present. Exchanges must begin to verify the identity of account users, keep transaction records, and report suspicious transactions to regulators
the conditions for the registration and establishment of Japanese digital currency dealers:
the establishment of a Japanese corporate company
leasing Japanese office
three Japanese employees are employed, one of whom is a director of a Japanese company
Japanese companies open bank to company accounts
there is a normal trading system (Japanese version is not required)
provide KYC information (specifically prepare the government information list)
the services include company registration before obtaining the license, assistance in leasing office space, assistance in recruitment of company employees, preparation of audit reports in cooperation with accounting firms, AML and KYC reports, business plans, all compliance documents to be submitted to FSA prepared with Japanese law firms, and answering all questions raised by FSA
in the process of obtaining a digital currency dealer license and in the process of future operation, traders must employ at least three employees, at least one of whom has a digital currency or bitcoin background or financial background
follow up maintenance: first, ensure the normal operation of the Japanese office and the daily work system of employees. Annual financial and audit reports should be submitted to the financial department of Japan every year. The contents of the reports are large, including the transaction details of virtual currency, the number of customers, the number of traders, the handling fees, the amount of customers' funds, etc. After obtaining the license, all the operation related expenses need to be paid by the dealer.

4. Japan's financial services agency (FSA) announced earlier that the latest revised version of Japan's payment services act has been passed and officially took effect on April 1, 2017. Bitcoin is recognized as a payment method in the service bill and strictly regulated
in this bill, the Legislative Council defines bitcoin as an asset rather than a currency. People can use it as a way of payment for transactions
relevant units have also put forward requirements that service providers or exchanges operating in bitcoin must register with the Prime Minister of Japan, and the capital scale must not be less than 10 million yen. They must have information technology systems that can prevent theft and loss, and must establish a variety of systems and processes, involving training, internal regulations, governance, outsourcing guidance, etc
the amendment bill also amends the prevention of the transfer of proceeds of crime act. Regulators have asked bitcoin to implement a more stringent "know your customer" process than it currently does. The exchange must verify the identity of the account opening user, keep the transaction records, and report the suspicious transaction records to the regulatory authorities.

5. In fact, I don't know. I think they may have a better acceptance of new things!

6. Hello, Japan's 500 yen is a coin, the bank does not exchange coins, so the market price of this coin is about 35 yuan.

7.

The unit of currency in Japan is the yen

Japanese yen (Japanese: 円, Japanese Roman: en, English: yen), whose banknotes are called Japanese bank notes, is the legal currency of Japan, and Japanese yen is often used as reserve currency after US dollar and euro

Japanese yen is the name of Japanese currency unit, which was founded on May 1, 1871. In 1897, Japan established the gold standard system, and the gold content was set at 0.75 g. in May 1953, the gold content was announced to be 0.00246853 g. on March 31, 1988, the gold standard system was completely abolished

there are four banknotes in circulation, namely, 1000, 2000, 5000 and 10000 yen, and six coins in denominations of 1, 5, 10, 50, 100 and 500 yen

On November 1, 1984, the Bank of Japan issued three new banknotes of 10000, 5000 and 1000 yen. In the past, the banknotes of 10000 yen (the image of Prince Shengde), 5000 yen (the image of Prince Shengde), 1000 yen (the image of ITO Bowen) and 500 yen (the image of Iwakura REI) are still in circulation

At present, there are three kinds of banknotes in circulation in Japan: 1000, 5000 and 10000

1000

obverse: Japanese medical scientist Hideki Noguchi (Natsume Soseki before November 2004)

reverse: Mount Fuji and Japanese national flower Sakura

5000

obverse: Japanese female novelist Ichiba sakuchi (made for niwato before November 2004)

reverse: Japanese artist masaku Guanglin's decorative painting "butterfly flower"

10000

obverse: Japanese writer Ecator Yukichi Fukuzawa back: Phoenix sculpture on the roof of the Phoenix Hall of the equality court there are six coins with denominations of 1, 5, 10, 50, 100 and 500

8. 1 yuan = 12.0240 yen
1 yen = 0.08317 yuan