Japan’s government says the virtual money bitcoin will not be treated as a currency.

The decision came as a written response in Japan’s parliament today (Friday) to a question from the opposition.

Japanese officials have been mulling rules for bitcoin in the wake of the collapse of Tokyo’s Mt. Gox, once the world’s largest bitcoin exchange.

The response says bitcoin will not be treated as a valid payment currency.

Banks will be prohibited from dealing in bitcoin.

Japan’s government said bitcoin may be taxed in the future.

But officials said they needed to better grasp how bitcoin was being used before regulating trade.

Mt. Gox shut down last week after hackers made off with roughly half a billion dollars in bitcoin.