Japanese Regulators Will Not Approve Crypto Projects With Gambling Dapps

Vandana  |  Jun 23, 2020

Xangle Research has recently published a new report related to Japanese digital asset regulations. Through the report, it is quite clear that Japanese regulators might soon approve various crypto projects. However, there is a condition to it that any project that is involved in gambling decentralized applications, Dapps will not get the approval. Along with this, the project should have great financial transparency in order to get approval.

Quantum satisfies three major requirements by Japanese regulators

In the research, Xangle has also mentioned the name of Quantum (QTUM) cryptocurrency which has been recently listed on Coincheck crypto exchange for trading. According to the report, Quantum satisfies the three major requirements by the Japanese regulators, a self-regulatory group named Japan Crypto Asset Exchange Agency (JVCEA). QTUM does not have any kind of involvement with gambling Dapps and it holds that much liquidity which makes it capable to trade on a major crypto exchange.

Not only this, there are several other cryptocurrency also including the Basic Attention Token (BAT) and Huobi Token (HT). In the report, it has also been mentioned that both BAT and HT come under the whitelisted category of Japanese regulators. Both of them have proved that they hold financial stability and stand strong with the national crypto standards.

From 2019 more crypto projects got approval

It has been reported that Quantum has been seeking to enter the Japanese market since 2017 but was unable to do so. The reason being that Japanese regulators were not ready to add new crypto projects to its whitelist. It got approval in 2019 when the changes have been made in the financial watchdog’s regulation. After these changes, it was seen that in 2019 various crypto projects got approval from the regulators. Even though the regulations have been changed but they are still quite strict.

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