Recently, there’ve been a large number of issues surrounding digital currency legislation in Japan, but this didn’t stop FISCO, a Japan-based company to create Fisco Coin, a new service that will act as an exchange for bitcoin and altcoins.
In the last couple of months, there’ve been numerous debates in the Japanese Cabinet, debating on how digital currencies should be regarded as by the government. Following discussions, an agreement has been reached, which has also been approved by the cabinet. According to the procedure, the law now needs to be voted on in the Parliament prior to being sanctioned and put into action. FISCO believes that not only will the law pass, but that it’ll also be improved in the near future, thus transforming Japan into a great place for bitcoin-based startups.
Due to the current situation, FISCO has decided to launch their exchange business, which so far, looks quite promising. At the beginning, the newly created firm will only deal with exchange services. However, reports indicate that later on, they’ll also develop financial derivative instruments and offer other services such as bond issue, crowdfunding and more, all via digital currencies.
Based on everything that has been outlined so far, what do you personally think about this announcement? Let us know your thoughts in the comment section below.
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