A virtual currency is coming to the U, and that means it could mean a new kind of tax on the wealthy.
Bitcoin, the virtual currency popularized by bitcoin exchange Mt.
Gox, is not a currency and it has no intrinsic value.
However, the government of Japan is considering levying a tax on virtual currencies.
Japan, one of the world’s top bitcoin exporters, has been on a crusade to impose an anti-money laundering (AML) regime that would apply to digital currencies.
Japan is already one of America’s biggest trading partners, with an estimated $3 trillion in trade with the country.
In April, the country’s cabinet approved a proposed AML law that would tax digital currency transactions and would also make it harder to transfer cash, including bitcoin.
A number of Japanese banks have reportedly said they will not accept bitcoin as payment.
But this may change.
The Bank of Japan said this week that it will start issuing bitcoin-denominated bonds.
A spokesman for the bank said the move was part of its efforts to improve its regulatory oversight of digital currencies, according to Reuters.
The bank is expected to announce more details next month.
Bitcoin prices have surged recently.
The digital currency is trading at more than $11,000 a coin, more than twice the value of the dollar.
It has also become a popular tool for people looking to make payments online.
The currency is traded online and has even become a form of remittance.