cryptonewsland.com
- Japan makes a significant move in accepting crypto and blockchain adoption.
- EOS gains whitelist approval from JVCEA, enabling trading against the Japanese yen.
- EOS poised to expand in East Asian markets with regulatory compliance.
EOS makes significant strides in the journey towards broader adoption and accessibility. Specifically, the EOS token secures whitelist approval from the Japan Virtual and Crypto Asset Exchange Association (JVCEA).
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This regulatory green light enables EOS to be traded against the Japanese Yen on regulated cryptocurrency exchanges in Japan. In a wider perspective, this move effectively expands its presence in the East Asian markets.
The approval from JVCEA holds immense significance. For instance, it opens up new avenues for EOS to engage with a wider spectrum of Japanese end-users, developers, and investors. EOS trading against the Japanese Yen is slated to commence in mid-September on BitTrade, a respected cryptocurrency platform regulated by Japan’s Financial Services Agency (FSA).
In particular, Japan’s regulatory framework for digital tokens is renowned for its strictness and comprehensive oversight. Governed by the Payment Services Act, the JVCEA and FSA meticulously monitor and regulate crypto-asset providers, it emphasizes a rigorous pre-screening procedure for new digital assets. EOS Network’s adherence to these exacting regulations underlines its dedication to transparency, security, and innovation.
Yves La Rose, Founder and CEO of the EOS Network Foundation, expressed the significance of this achievement: “Securing regulatory approval from the JVCEA is a monumental achievement for EOS, affirming our steadfast commitment to compliance. This landmark approval ushers in new prospects for EOS in the Japanese market, fostering stronger connections with discerning businesses and developers seeking robust blockchain solutions, in particular within the gaming industry.”
The EOS Network has gained traction in the Japanese market, notably with the expansion of Upland, one of the industry’s largest metaverses, built on EOS, to include Tokyo. With a solid reputation cultivated over five years of mainnet operation without downtime and an efficient Ethereum Virtual Machine, EOS has emerged as a preferred choice among blockchain enthusiasts and developers.
This regulatory approval further validates EOS Network’s reliability and performance, setting the stage for heightened growth and adoption in the East Asian markets. Backed by solid partnerships and a proven track record, EOS is well-positioned for sustained success in the region, consolidating its standing as a prominent global blockchain.