Las Vegas-based firm Robocoin said that they are shipping a bitcoin ATM to Tokyo and considering setting it up for operations by May of this year. This latest move comes in the midst of the virtual currency coming under fire as several operators have admitted to being hacked and losing their own and their customers’ bitcoins.
This brand new facility will let people buy virtual currencies and withdraw from their online accounts. To address concerns over fraud and money laundering, customers will be asked to submit identification documents, as well as personal photos. Robocoin has already shipped six units of the ATM in North America, and two of them have already been installed in Vancouver and Austin, Texas. They’re also planning on installing several more in other regions, particularly in Britain and Singapore.
The credibility of bitcoins has been called into question lately, as one of the biggest operators, Tokyo-based Mt. Gox, filed for bankruptcy last week when it lost most of the bitcoins belonging to its customers, as well as its own stash. The Japanese government also released a statement last week saying that bitcoins are not real currency. But Chief Cabinet Secretary Yoshihide Suga said that since it involves transactions and gains, the Finance Ministry is looking into how taxes can be imposed and how they can be regulated.
[via Jiji Press]
Comments Off on JDP Startup Corner: Pros & Cons of Working with a Partner in Japan