Bitcoin Becoming Part of Everyday Life in Japan
Investing.com - South Korea may be struggling over what to do about cryptocurrencies, but the Japanese have been embracing Bitcoin since it became legal tender in April 2017.Another trading exchange launched last week, one of 15 already approved in Japan, which has now surpassed the U.S. in Bitcoin trading. Soon to come is a small cryptocurrency investment fund by the Bitcoin exchange operator Fisco.Bitcoin is also becoming part of everyday life. Hundreds of companies, including major ones, are said to accept the cryptocurrency as payment. Starting next month, a company called GMO plans to offer Bitcoin as a payment option to its workers.On a much grander scale, Japanese commercial banks plan to create a national cryptocurrency of their own, the J Coin, whose launch is expected to coincide with the Tokyo Summer Olympics in 2020.Perhaps the most telling indication of acceptance is Bitcoin's impact on popular culture. Fresh on the J-pop, or idol, girl band scene is a band whose name translates to virtual currency girls.
