Bitcoin technology is unquestionably finding its share of fans in Japan, a country which recently proposed a rather friendlier regulatory framework for the digital currency. And now, the land of the rising sun is making a similar progress in terms of online trading.
Over the gone weekend, Japan has reportedly recorded the world’s second highest Bitcoin trade volume, falling just short of touching China, while beating the US. A discussion initiated on Reddit provided an image to prove the claim. The snapshot showed how BTC/JPY trading instruments was sitting on the top of BTC/USD and BTC/EUR respectively. Even though the source of this information has not be ascertained yet, it still seemed pretty plausible.
Japan has a prolific cryptocurrency ecosystem which has bounced back on track after Mt Gox, a scandalous Bitcoin exchange which lost million of dollars of people’s money to an inside hack. A fair amount of pundits saw the incident as an end of Bitcoin in the region but – against all the odds – the Japanese regulators took steps to create a confident environment for Bitcoin community. It encouraged the digital currency’s adoption by recently recognizing it as any other fiat currency.
While the credibility of the Reddit post