Bitcoin not yet proven as credible currency: Japan finance minister

Bitcoin not yet proven as credible currency: Japan finance minister
PHOTO: Reuters

TOKYO - Japanese Finance Minister Taro Aso said on Tuesday that bitcoin had not been proven as a credible currency.

He made the remark to reporters when asked about his French counterpart's comment this week that France would propose a discussion on regulating the virtual currency at a meeting of G20 group of major economies next year.

Aso said virtual currencies may be widely used in countries such as China but that they were less common in Japan, where hard currency is still preferred.

Bitcoin's prices have risen more than 1,700 per cent since the start of the year, triggering worries about a bubble.

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