In the Japanese capital, Tokyo, is a FINSUM 2019 is now underway. This is a three day event about fintech, blockchain, crypto, and the future of the financial sector. A media company NIKKEI INC. and Japan’s Financial Services Agency (FSA) to organise the event.
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Bitcoin and the lightning network,
The eternal bitcoin is an optimist Anthony ‘Pump’ Pompliano, is also present. He gave a keynote address entitled The future of money, that can be defined. After a full day of panels, presentations and networking, spoke, the Pump, on the first day of the event, with two of the managers from the Financial Services Agency. He spoke with his boss, Toshihide Endo, and is the managing director of Fintech, and Innovation, Jumpei Miwa.
And what do you find? The two men are excited about bitcoin. They are both in favour of the Lightning Network. According to a tweet from the Pump to the FSA as an organisation is pro-bitcoin, and lightning network.
Japan’s Financial Services Agency is a big proponent, or Bitcoin, and Lightning Network.
This is the Agency’s Commissioner (the top boss) on the left, and the Director of the Innovation on the right.
The first country that embraces Bitcoin, will have a significant advantage ?? pic.twitter.com/cgPkZcZCKQ
Pump ? (@APompliano September 3, 2019
He has researched the reasons why both men fans of all ages:
They have a relatively clear legal framework, and they want a Bitcoin / LINK to see succeed, and they have allowed me specifically said that they think that the networks are going to win, and it is an honor to be a world leader in the adoption of both of these aspects of the technology.
A controlled market
The Nikkei Asian Review spoke earlier with a member of the FSA. The FSA, please note that the focus on the secondary market in the computer world, and the compliance with the rules and regulations in order to combat money-laundering. “We are working to promote bitcoin, but only if the trade is checked” will be included.
Also, it suggests that bitcoin is hugely popular in Japan. Bitcoin is used for 74% of all purchases and sales of U.s. dollars. The Japanese Yen is in the second place, no less than 17 per cent of all bitcoins are the Currency being traded. For reference, the euro is in fourth place, with only 1.8 per cent.
Not surprising, considering the Japanese law is that bitcoin is attractive to own. By 2017, the country has a law, that bitcoin as a legitimate form of payment involved. This went hand in hand with a strict set of rules: cryptobrokers and the stock exchanges have to comply with the rules relating to anti-money laundering (AML) and know your customer (KYC).
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