A Japanese exchange by the name of Coincheck has partnered with Recruit Lifestyle. This summer, bitcoin will become a payment option at stores that use Recruit Lifestyle. 260,000 food establishments and other retail stores nation wide will be accepting bitcoin.
This is a Major Development for Bitcoin being more accepted all over the Earth..
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This is huge. 1 exchange linked 260,000 stores... thats amazing... imagine being a tourist and going to japan... you get to avoid the exchange rate fee which are like up to 5% at the airport... this will probably happen soon in korea or some other countries.
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I wonder for how long Japan and other governments will refuse to collect VAT for cryptocurrency payments. Probably when VAT revenue start to drop significantly.
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can they add a VAT on bitcoin purchases?
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Sure, they can force commerces to pay VAT. It may be tricky to control if they really pay the VAT, but not much difficult than cash payments.
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