EOS expands into East Asia markets with regulatory approval in Japan

EOS expands into East Asia markets with regulatory approval in Japan

By Charles Thuo - min read
  • The EOS received a whitelist approval from the Japan Virtual and Crypto Asset Exchange Association (JVCEA).
  • EOS will start trading on BitTrade in Japan in mid-September.
  • Crypto-asset providers in Japan are monitored and regulated by the JVCEA and FSA under the Payment Services Act.

The EOS Network Foundation has announced that the Japan Virtual and Crypto Asset Exchange Association (JVCEA) has approved the EOS cryptocurrency for inclusion on its whitelist. The accomplishment opens the door for EOS to be traded in Japan on authorized cryptocurrency exchanges against the yen.

By giving the EOS Network more exposure and accessibility to a wider spectrum of Japanese end users, developers, and investors, the JVCEA’s approval represents a significant advancement for EOS. Midway through September, EOS will start trading on BitTrade, a renowned cryptocurrency exchange authorized and governed by the nation’s Financial Services Agency (FSA).

Japan’s strict crypto regulations

Japan’s strict regulatory regime controlling digital tokens is well known for its thoroughness and sturdiness. The Payment Services Act mandates a detailed pre-screening procedure for new digital assets, and the JVCEA and FSA closely monitor and regulate crypto-asset providers. The EOS Network’s adherence to these strict rules demonstrates its dedication to openness, security, and innovation.

With the successful extension of Upland, built on EOS and one of the largest metaverses in the business, to encompass Tokyo, the network is already experiencing a rise in popularity and usage in the Japanese market.

EOS has a solid reputation among blockchain fans and developers thanks to its five years of uninterrupted mainnet operation and its top-tier Ethereum Virtual Machine, which offers unrivalled performance.

This endorsement shows that the EOS Network’s dependability and performance have been acknowledged, opening the door for further development and acceptance in East Asian markets. As one of the top blockchains globally, EOS is well-positioned for ongoing progress in the area thanks to strong collaborations and a successful track record.