The government of Japan is planning, according to media reports, to develop a SWIFT-like network for payment transactions with Bitcoin, Ripple, Ethereum, and friends. The payment network is intended to serve, among other things, to prevent money laundering through crypto-currencies.

By Phillip Horch
18. July 2019BTC$10.299,00 6.26%part Facebook Twitter LinkedIn xing mail

Bitcoin & co. money laundering would make it easier, it is a point of criticism, the crypto-Community reports since the first media to BTC is facing. Critics all over the world consult the Argument, to show the dangers of crypto-currencies out. Now Japan wants to tackle this Problem. According to hitherto unconfirmed Reports, the island nation is planning a SWIFT-like network, to monitor the payment transactions with crypto-currencies better.

Japanese government will have with the FATF agreed

the UK Department of the international news Agency Reuters in recall reported on an anonymous source. Accordingly, the project of the Japanese government and will be monitored by a Department of the Financial Action Task Force (FATF). However, it should be about the technical design of the SWIFT for Bitcoin & co. so far, little is known.

I have, However, agreed with the FATF to the plans of the Japanese Ministry of Finance in June 2019 already.

proposal to the Tooth of time

Ultimately, the message fits into the current Events and the news surrounding crypto-currencies. Such as members of the U.S. Senate on may 17. July acknowledged that they could not stop the continued enforcement of crypto-currencies. Here, a rethinking seems to be looming. Because while the regulation went a narrative a few years ago in the direction of any Prohibited, not governments now realise, apparently, that this is possible.

acceptance by Bitcoin users, questionable

The „danger“ through crypto-currencies seems to be so recognized, governments may now try to keep the possible damage low. An international payment network for crypto-currencies could be here to help for sure, the reputation of crypto-currencies Polish it up even more. Whether this can prevail in the case of Decentralisation heavily influenced by the concept of crypto-Fans, however, must, however, remain questionable.

Japan has already decided in June, in the regulation of crypto-currencies harder to access by. To said at this time there, that they wanted to just monitor the taxation and compliance with the respective policies to be more efficient.

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