Japan’s government says it may create a set of rules to govern the virtual currency bitcoin.

This comes after the collapse of Tokyo’s Mt. Gox, once the world’s largest bitcoin exchange, and other online platforms.

Japanese officials said they would likely treat bitcoin not as a currency, but as a taxable commodity.

Banks would also be prohibited from dealing in bitcoin.

Officials said they needed to better grasp how bitcoin was being traded before deciding how to regulate transactions.

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