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by MBCook 4486 days ago
Are they actually regulating bitcoin or cryptocurrencies?

What's to prevent everyone from just moving to Dogecoin or Likecoin or some other substitute to stay off book?

2 comments

Well, the existing value in Bitcoin, for one. I'm mining dogecoin largely to learn a little bit about these currencies, but if everyone did move over, by the time it reached the same value Bitcoin has it'd be regulated too.

From what I've read, I doubt the Japanese government (mostly Aso, whose game I'm guessing this is) actually understands that there are other cryptocurrencies.

Similar to "bath salts," that legal trickery may work for a while, but the law will eventually catch up if a government is motivated to stop something.