Monday 7 March 2016

Does the recognition of bitcoin as payment in Japan mean that one can pay its taxes in bitcoin in Japan ?


The Japanese government recently adopted legislation to approve bitcoin as a payment mechanism.http://s.nikkei.com/1M2nRVD that mean that one can now pay its taxes in bitcoin in Japan ?According to modern monetary theory, "taxes drive money": the fact that the government accept (fiat) currency as (only) payment of your tax creates demand for fiat currency and ultimately ensures the "value" of (fiat) currency in the economy.Hence, the acceptance of bitcoin for taxation in Japan would be BIG news in my opinion.Do any of the Japanese locals have an opinion on this ? Will you try to pay your taxes in bitcoin ? via /r/Bitcoin http://bit.ly/1U6xZmP

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