🌐 Japan and Russia Currently Do Not Consider Establishing National Bitcoin Reserves

Recently, new international developments show that both Japan and Russia have stated that they have no plans to establish national Bitcoin reserves. The strategy of continued observation chosen by both countries is aimed at examining the subsequent actions of other countries, particularly the United States.

In Japan, a legislator has suggested that the government should learn from the United States and consider starting to reserve Bitcoin. However, Prime Minister Shigeru Ishiba's office responded that they are still unclear about the specific movements of the United States and other countries and regions, making it difficult to express a stance at this time. Moreover, Japan’s current laws do not allow the government to hold cryptocurrencies. Ishiba has previously taken a cautious stance on cryptocurrencies, indicating that the Japanese government remains conservative in this regard.

On the Russian side, Finance Minister Anton Siluanov also stated that although Bitcoin has risen rapidly this year, its unpredictability makes the government unwilling to take risks. He emphasized that the state will not bear such financial risks and would rather earn less than take a gamble.

Meanwhile, countries like the United States and Brazil are actively exploring the possibility of using Bitcoin as a national reserve asset. It seems that global attitudes toward cryptocurrencies are becoming increasingly polarized.

🗣 Conclusion:

Although Japan and Russia currently have no plans to establish national Bitcoin reserves, they are not completely closed off to the cryptocurrency field. Since 2017, Japan has officially recognized cryptocurrencies as legal payment methods and established a dedicated regulatory body to ensure the healthy development of the market. Russia, on the other hand, has also granted legal status to cryptocurrency mining, and Russian companies have begun using Bitcoin and other digital currencies in international payments.

These measures indicate that while both countries are cautious about Bitcoin reserves on a national level, they have already recognized and integrated into the development trend of cryptocurrencies in other aspects. This strategy may be motivated by considerations of the high volatility and regulatory uncertainty of the cryptocurrency market, as well as the desire to observe the policy effects of other countries before making more prudent decisions.

In summary, although Japan and Russia are currently taking a wait-and-see approach, the competitive trend of cryptocurrencies on a global scale has just begun to unfold, and we look forward to seeing what happens next!

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