EOS Wins Approval from Japanese Regulators

banner-image

According to recent reports, the EOS token has received regulatory permission from Japan’s cryptocurrency authority, creating up the possibilities for trading against the Japanese yen on authorized platforms in that nation. 

EOS Approved in Japan

As per the statement released by the EOS Network Foundation (ENF), which is presently financing the continued growth of EOS, the token has been approved for the Japanese Virtual and Crypto Asset Exchange Association’s whitelist. The ENF also mentioned that BitTrade, a digital asset exchange, will facilitate trading for the token starting in September.

Comments from the CEO

Notably, EOS is a Layer-1 network for developers interested in developing blockchain-based games (GameFi) and deploying decentralized apps (dApps). 

The CEO of ENF, Yves La Rose, stated that it is crucial for EOS to enter the Asian market. La Rose claims that because of the substantial number of token users, the region has continually served as an “important pillar” for EOS. 

He stated: “We strongly believe that the next wave of Web3 innovation will come in the form of blockchain-based gaming and GameFi. Asia is clearly a leader in that space.”

‘Incredible Opportunity’

According to La Rose, there is an “incredible opportunity” for nations like Japan to take part in the market since it provides supervision as well as clarity.  also mentioned how many Japanese game IPs are “ripe for tokenization.”

The web3 gaming sector has had a number of difficulties, such as technical difficulties, regulatory obstacles, and the unstable nature of cryptocurrencies. 

Expansion of EOS in Blockchain Sector

However, the potential of blockchain technology may be fully realized in the gaming industry by overcoming these difficulties through development and exchanges of information. Moreover, a new era of decentralized gaming experiences has started with the rise of Web3 and gaming.

The EOS Network Foundation recently concluded an agreement with DWF Labs, a market maker and investment firm for digital assets, involving an investment deal of over sixty million dollars. This represents the foundation’s largest investment to date.

June 16, 2024

Former United States President Donald Trump promised to halt what he..

June 16, 2024

The firm behind ChatGPT, OpenAI, operates as a unique partnership between..

June 15, 2024

Gemini Exchange has reached agreement with the New York Attorney General..

ads-image ads-image