Japan greenlights its first cryptocurrency

Enjin Coin becomes the first cryptocurrency approved by Japanese regulators and will be listed on the Coincheck exchange on January 26

A monumental?verdict is reached as Japanese regulators?give the green light to?Enjin?Coin?(ENJ),?and will become?the first cryptocurrency?approved by Japanese regulators.?The?agreement?was made possible through a partnership with?Hashport.?Enjin?Coin will be listed in?Coincheck?on January 26.?Enjin?Coin, first launching back in 2017, also leverages non-fungible token (NFT) technology.?

The news was made public through a statement issued by?Entain?Coin on 19 January 2021. They?announced?that the?governing?body behand the agreement was?the Japan Virtual Currency Exchange Association (JVCEA), a?self-regulatory?organisation formally recognised?by the Japanese Financial Services Agency (FSA).?Under this agreement,?Japanese?users will be able to purchase ENJ with Yen and trade with Bitcoin.?Approval?for the JVCEA includes a?‘rigorous examination process’.??

Market data shows?that?ENJ?jumped more than?71% after the?announcement?and?currently?holds a price of $0.?4073.?

Maxim?Blagov,?Enjin’s?CEO hoped that the verdict will help catalyst?crypto?adoption?across Japan:?

From Super Mario to Pokémon and Final Fantasy, Japan is home to pioneering games that hold a lasting place in pop culture. Japan’s culture of innovation is directly aligned with Enjin’s. We believe some of the world’s best blockchain games will come from the Japanese gaming industry, and we?will be there to help them leverage this powerful technology to the fullest.?

Hashport’s?CEO,?Seihaku?Yoshida, provided insight into?Enjin?Coin’s approval process stating:?

Enjin?made a bold commitment entering the Japanese market in 2019, determined to grow their business in the space regardless of market conditions. After more than a year of due diligence, the approval and listing of?Enjin?Coin on?Coincheck?is an important milestone for?Enjin and adoption of its blockchain platform in Japan.

He concluded:??

Since our partnership was announced, the Enjin?team has been in discussions with various leading domestic companies and projects. I’m?honored?to help them achieve this milestone and positively?impact the Japanese gaming industry and beyond.

Source: Bitcoin.com?

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