Altcoins Talks - Cryptocurrency Forum
Marketplace => Gambling & Crypto Casinos => Topic started by: Tnoy30 on June 23, 2020, 11:14:58 AM
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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.
Read on: https://cointelegraph.com/news/japanese-financial-watchdog-frowns-on-gambling-dapps
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Wow amazing information. This information is true.
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I think that decentralized games will always exist, but they will be considered illegal, because their main feature is the absence of centralization, control and any kind of KYC. But I also prefer to play on centralized gaming platforms because they are better designed and overseen by financial regulators.
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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.
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Some people seek regulated and licensed services for the protection granted by the state to them others do not care for interference from the centralised Orwell farm rat race and are using tor or vpn using whatever gambling site they wish with whatever currency they choose their risk their choice and that is free .
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The centralized gaming platforms that currently exist are much more aware of their financial regulators. So love to play there. The design of the sites is very good, which is why Ray is constantly attracting people. However, there will be centralized gaming platforms. KYC does not have supervision, but much better.
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Japan is so much interested in the crypto market and so many big investors are from the japan and they invest big amount of money in the crypto market and they make good profit through this market and now day by day new exchanges are open in the crypto market from the japan side and thy support just the Japanese peoples most of the exchanges are this type.
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Crypto project exception in Japan its mean that are interested in this market and they want to allow their people that start work in this market and invest their money but the Japan government will also apply the tax of every transaction when anyone Japanese person will deposit or withdraw their money.
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It is a bit of cath 22 involved but at the end of the day those currencies focused on Japanese market will not get involved with gambling dapps which IMHO is pointless due to ease of trading one currency to another and is illogical
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They make good decision that they approve the crypto market but the Japanese Government need that they allow crypto market coins in the casino becasue so many peoples which are jobless and they need the money to make their life good and better. Casino games is the best opportunity for them.
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IMO, I guess the Japanese financial Authorities are just cautious about Dapp's functions and feature particularly on Gambling Dapp's especially those Dapp's that has total anonymity features its a complex and technical problem for governments to track anonymous users in the decentralized Network so I think Japan has already aware of that situation that's why they are very cautious about it.