While bitcoin has recently suffered some defeats in the U.S. at the hands of the SEC, not all news has been bad news. In a major move for bitcoin legitimacy, Japan has recognized bitcoin as a legal payment method on April 1. (And no, it wasn’t an April Fool’s prank.)
As part of the new law that has “legalized” bitcoin in Japan, the nation’s Financial Services Agency has put capital requirements, along with cybersecurity and operational stipulations, in place for bitcoin exchange, said CoinDesk. Additionally, bitcoin exchanges in Japan will now be required to conduct employee training programs and submit to annual audits.