Japan is set to become the first major economy to regulate Bitcoin. The Japanese government plans define Bitcoin as a commodity and is preparing rules for trading and taxing the virtual currency.
According to the Nikkei Asian Review, gains from trading Bitcoins on exchanges and purchases made with the cryptocurrency will be subject to Japan’s consumption tax, which is set to rise 8% on April 1. Banks and securities firms will be prohibited from handling or brokering trades.
Japan’s decision is in reaction to the implosion of Tokyo-based Mt. Gox. Once the world’s largest Bitcoin exchange, Mt. Gox has since gone bankrupt after losing nearly half a billion dollars in Bitcoin to cyber thieves.
Today CGI and GTNews have announced the launch of the fifth annual Transaction Banking survey report, which offers which offers critical insight into the corporate-to-bank relationship.
On-Demand Treasury Management Solutions continue to gain increased adoption in the US and EMEA regions.
Treasurers are being expected to do more work with fewer resources than ever before, so it is little wonder that the automation of day-to-day operations was highly discussed on the second day of EuroFinance, the annual treasury event held in Barcelona this week.
Chicago based Treasury Management System (TMS) vendor GTreasury and Sydney based risk and treasury management vendor Visual Risk have joined forces in a strategic alliance to ... read more