TOKYO: Japan will this week clarify the legal handling of Bitcoin, people familiar with the matter said, the first sign that the government is taking action on regulating the virtual currency after the collapse last week of Tokyo-based Mt. Gox, once the world's largest Bitcoin exchange.
The cabinet will decide on Friday how to treat Bitcoin under existing laws, the people said, adding that banks and securities firms will not be able to handle Bitcoin as part of their main businesses, suggesting it will be treated more as a commodity, like gold.
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