Satoshi Hamada, a member of the House of Councillors from the Party to Protect the People from NHK, submitted a written question to the government regarding the creation of a reserve for crypto assets (virtual currencies). The public secretary made the document public on the 11th. They mentioned that there are movements in the United States and Brazil to hold Bitcoin (BTC) as a reserve, and requested that the Japanese government explain its current understanding and views on the matter. The group also believes that Japan should consider converting part of its foreign exchange reserves into virtual currencies such as Bitcoin, and has requested the government’s views on this point as well. At the time of writing, the document submitted by Representative Hamada has not been uploaded to the official House of Councillors page for questions, but his public secretary has made its contents public in the above post x. The question mentioned that the incoming Trump administration will appoint a new special envoy for AI and virtual currencies, that a bill has been submitted to allow the United States to hold Bitcoin as a reserve, and that similar movements are also being seen in Brazil. The report also stated that there is a very high possibility that Bitcoin will evolve from “digital gold” to a “national strategic asset,” which is expected to have a tremendous impact on the digital asset market. He also pointed out that Bitcoin has the characteristic of being less susceptible to the influence of specific countries or institutions. He also said that as a neutral and decentralized asset, it could play an important role in supporting economic activity between countries without relying on a specific currency. According to the documents made public, Hamada’s questions were the two mentioned above. Regarding the response, he said, “In light of the burden on bureaucrats in preparing responses, I would be happy to postpone the response in accordance with the provisions of the Diet Law and respond within 21 days of the forwarding of the question.” The House of Councillors’ official website has published written responses along with each question, and it is expected that the responses to Representative Hamada’s questions will be made public as well. Critical Views: As Hamada points out, the creation of a Bitcoin reserve has not yet been decided in the United States, but a bill has actually been submitted. (Link below).
My grandpa used to say that if infrastructure surrounding virtual currencies were to be established in Japan, a country where security is already lax, money laundering is rampant, and there is no anti-espionage law, dirty money would flood in and Japan’s assets would be contaminated by overseas dark money.
Those who currently hold large amounts of it want to force cryptocurrency on people and turn it into cash. It would be stupid for a country to hold a large amount of it and have their cash taken away.
>>15 America, Russia, China The world’s hegemonic powers are buying it up lol In the first place, they have the right to issue currency, so they can print as much cash as they want.
I have some virtual currency, but Bitcoin transfers are slow and I worry that I sent it to the wrong address… Ethereum is better because it reflects changes quickly.
More importantly, I got an email from MUFG saying that starting in 11 days, the amount you can handle through online banking will go from 10 million to 100,000, and it might happen to you. What kind of attitude is this (angry)?
Many people noticed around the time of the banking crisis in the US last spring, and since then it has become one of the outlets for assets to escape, along with gold, when something happens.
>>46 The value of paper money is steadily decreasing. However, I think the ceiling will come when Japanese people, who have a shallow understanding of blockchain and are lagging behind the rest of the world, start buying it, so I hope people don’t buy it yet.
Comments