Japan Approves Trading of EOS Cryptocurrency
The Japan Virtual and Crypto Asset Exchange Association (JVCEA) has given approval for the trading of the EOS cryptocurrency on the BitTrade exchange. This comes as a major development for EOS, which raised $4 billion through its ICO in 2018. While there were concerns about slow progress, the Japanese regulator has now granted whitelist approval.
Key Points:
- EOS will be available for trading against the Japanese Yen on the BitTrade exchange from mid-September.
- Yves La Rose, CEO of the EOS Network Foundation, sees this approval as a significant achievement for EOS.
- The news has resulted in a 7.74% increase in the price of the EOS token.
- Japan has been showing increasing support for the Web3 industry, with Binance recently entering the Japanese market.
- Local Japanese Web3 industry stakeholders believe that the US crackdown on cryptocurrencies may establish Japan as a crypto hub.
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Overall, the approval of EOS trading in Japan is a positive development for the cryptocurrency and its community. It demonstrates Japan’s serious intention to support the crypto sector and may contribute to the country’s emergence as a significant player in the crypto industry.
