Japan already considers Bitcoin to be a commodity, effectively making it a legal rather than an illegal asset. Japan is now taking a step further by possibly acknowledging cryptocurrencies as currencies, giving the government more control over their use. Bitcoin and the other cryptocurrencies are progressively shifting from experiment to illegal use to unofficial use to asset to commodity and eventually to currency. The progression may seem slow while in the midst of the move, but in retrospect may seem an abrupt shift from an increasingly anachronistic economy and set of currencies to a set of digital currencies and the resultant shift in financial systems and economies.
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“Japan Considers Making Bitcoin A Legal Currency” – Brookings
Pretending Not To Panic 