Japanese Financial Watchdog Frowns on Gambling Dapps
According to a new report from Xangle Research on Japanese digital asset regulations, the country's financial watchdog, the Financial Services Agency (FSA), specifically says crypto firms may be approved if they do not support decentralized applications (Dapps) with gambling or anonymous features. In particular, Xangle named Quantum (QTUM), the cryptocurrency recently made available for trading on Japanese crypto exchange Coincheck, as satisfying three essential requirements by the country's self-regulatory group, the Japan Crypto Asset Exchange Agency (JVCEA).
The Xangle report stated that BAT, HT, and QTUM had achieved financial transparency, compliance to regulatory requests, and technical stability. Qtum had wanted to enter the Japanese market since 2017, but the FSA “was not very open to adding new tokens” to its whitelist, according to the representative.
