Japanese Financial Watchdog Frowns on Gambling Dapps

tylerwinklevoss
2022-10-26 10:20:01

New research from Xangle suggests Japan’s Financial Services Agency is more likely to approve crypto projects not involved in casino Dapps.
Regulators in Japan may be more inclined to approve new virtual currencies for trading if they have greater financial transparency and aren’t involved in 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.

elandicaprio
2022-10-26 10:23:26

The government of each country is more cautious about decentralized and centralized gaming sites. Decentralized gaming is common all over the world, but it is considered illegal. The government of every country recognizes it as illegal. When centralized, the government takes action. So I think the administration is very active. However, decentralized gaming cannot be controlled by the government of any country because KYC is not required to run it.