Japan is one of the friendliest environments for cryptocurrency, and many crypto related businesses have been granted licenses by the country\u2019s regulator.<\/p>\n
The crypto industry is flourishing in Japan, and more players are coming into play.<\/p>\n
The most popular messaging app in Japan, LINE<\/a>, has obtained a cryptocurrency license from the Financial Services Agency (FSA). LINE has over 80 million monthly users, and it will now offer crypto services to all these users.<\/p>\n
In August, LINE announced that they are working on developing a token economy. This token economy will be based on the firm\u2019s blockchain LINK Chain. Through this blockchain, two tokens will be availed to users. Japanese customers will use LINE Point while users from the rest of the world will use LINK.<\/p>\n
This token economy has been designed to provide a bridge between users and the services that they require. The LINK Chain<\/a> will have five new decentralized applications (dApps) launched on it soon.<\/p>\n
Reports surfacing from Japan\u2019s suggest that there are regulatory changes on the way in the country. These new regulations will apply to crypto exchanges in the country.<\/p>\n
The country is revising its laws regarding crypto exchanges, and from mid-2020, all crypto related activity will be placed under the guidance of the Financial Instruments and Exchange Act.<\/p>\n
The FSA has recently become more aggressive in their efforts to curb unregulated Bitcoin exchanges<\/a>.<\/p>\n
After the FSA\u2019s crackdown is through, there might also be room for exchanges to extend the services they offer to include features such as options to buy Ethereum with PayPal<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"