Japan 's Financial Services Agency is recognising bitcoin as a payment method in the future , however , it does not acknowledge the digital coin as a currency . In force from 1 April , the new law will require bitcoin exchanges to register with the prime minister , hold a minimum of [UNK] m ( $ 90,000 ) in capital and develop an IT system that guards against theft and loss . In addition , exchanges will provide employee training , establish internal rules and governance , and offer guidance for outsourcing . However , technical standards for the digital currency are still to be developed .
Japan's Financial Services Agency is recognising bitcoin as a payment method in the country, however, it does not acknowledge the digital coin as a currency. In force from 1 April, the new law will require bitcoin exchanges to register with the prime minister, hold a minimum of JPY10m ($90,000) in capital and develop an IT system that guards against theft and loss. In addition, exchanges must provide employee training, establish internal rules and governance, and offer guidance for outsourcing. However, accounting standards for the digital currency are still to be developed.