Yamada Denki to cooperate with bitFlyer

The cryptocurrency exchange called bitFlyer has recently appeared in the news due to its successful legalization in European Union thanks to the regulator of Luxembourg. Now the same exchange signs a deal with Yamada Denki, which means that more Japanese residents will now be able to buy electronics with cryptocurrency.

Apparently, its team responsible for external affairs is very professional, as this is not the first deal with a major Japanese electronic seller they signed. Bic Camera is another company with which this cryptocurrency exchange has decided to cooperate, and just as in the case with Gemini used for CBOE’s Bitcoin futures price, the cooperation will undoubtedly be fruitful for this organization.

The legal background behind both deals has to be clarified. The legal ecosystem in which Bitcoin can be a means of payment is mundane reality in Japan, while in Russia and other CIS countries the authorities are not at all that hesitant to allow buy or sell anything for Bitcoin. In case with Russia, the reasoning behind this prohibition is the principle of ruble, the national fiat currency, being the one and only payment means in Russia, as dictated by the law on Central Bank. No amendments to this principle due to the upcoming legislative measures on cryptocurrency are planned.