China is moving forward with a plan to crack down on Cryptocurrencies, but Japan is singing a different tune.
China banned initial coin offerings, a red-hot cryptocurrency-based fundraising method, earlier in September, and since then there have been numerous reports of a wide-ranging crackdown on exchanges.
In April, Japan deemed Bitcoin, the largest cryptocurrency by market cap, as a legal form of payment .
The move by Japan could help cement the country's position as a leading market for cryptocurrencies.
And since China banned ICOs on September 4, Japan has emerged as the largest market for bitcoin trading.
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