Yuu Ito’s Talks:

Member of Tokyo Metropolitan Assembly, Yuu Ito, spoke about the current plans that Yuriko Koike-the governor of Tokyo is initiating. She has got recent fame for her projects boosting international Standards of finance as was written on Cryptonews.com.

But Ito's statement was said to take a radical action; otherwise, it will be of no use to bring Tokyo on a par with Asian Financial Hubs. He further added that Japanese BTC-to-yen ownership rates dropped immensely in the last few years, so it would not be easy to get an edge through Crypto-related business. However, if this would be done, Japan could surely get an advantage over London and Asian Finance hubs. He discussed the main reason for the back of investors; according to him, it is the high tax rates.

Ito’s Solutions towards crypto-related problems:

He gave the solutions, like the redevelopment of Historic Fish market-Tsukiji Market, which could play a vital role. According to sources, the market has now been closed, and it will now be used only as a transport depot for the upcoming Tokyo Olympics. But plans are being initiated to redevelop the market with hotels and centers in the next two decades. And Crypto can be major role-players here, transforming it into the central hub of Cryptocurrencies. He advised creating a central and special zone in Tokyo, where people could use BTC in a tax-free way. He believes that politicians need to tackle the issue of Bitcoin taxation as soon as possible. He said at the end,

"If we can use these adoption plans with boosted moves, we will surely win the tech race."

Another Assemblyman Talked about Crypto

Although it’s very challenging for Ito to bring his fellows on a single platform of thoughts, he has been successful in convincing one of them. While speaking to the media, Nobuko Irie stated his agreement that blockchain-powered solutions are a significant need for help in the short-term and the long-term. She linked the current pandemic situation to prove her stance; she believed that technological advancement would pay the way for better distribution of economic aid. She thought that Crypto advancement is a golden chance for Tokyo to rise to the fore globally.

Current thoughts of People about BTC

According to a recent survey in Japan, Bitcoin will have a major breakout in 2021; 68% of respondents voted for that. Following BTC, Ethereum (ETH) was second place with 12% votes and XEM with almost 7%. The media stated that nearly 90% of the survey respondents currently own Crypto while 55% begin the journey of trading in 2015-and almost 6% invested a large amount of USD on crypto assets.