Blockchain Contents Association (BCA) which is a Tokyo-based firm has announced new guidelines for blockchain gaming. As the crypto market is full of gambling and scams, this organisation has made an attempt to explain the regulations.
This organisation has been established very recently in the previous month only, which is February 2020. The main purpose behind building up this association was to prevent such illicit activities in the crypto market. It is going to promote the protection to the customers for all the content including gaming and social media that are based on blockchain
Through reports, it came out that gambling either online or in-person is majorly illegal in Japan. Through these guidelines, it is an attempt by BCA to prevent blockchain gaming developers against any such activities.
In these guidelines, local laws which cover the gaming industries such as Act against Premium and Misleading Representation, Payment Services Act, and the Financial Instruments and Exchange Act are also included.
These guidelines will also provide adequate information to the blockchain gaming industries related to gambling and other such activities. Now, the developers will be able to identify what is gambling as stated under Japanese law.
As the main goal of the association is to prevent such fraudulent activities in the gaming industry, Hironao Kunimitsu shared his thoughts regarding this. Kunimitsu, the president of BCA has said that this will let the gamers play the blockchain games with peace of mind.
According to him, these guidelines will lead the blockchain contents towards healthy development.
In total there are ten companies which are contributing their part for the development of the association. This is a great step by these companies to take the blockchain gaming industries to another level. All the actions which will be taken by this association come strictly under Japanese law.
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