Japanese regulators wary of gambling dapps

According to Xangle Research’s report assessing attitudes and changes in Japanese digital asset regulations, the Japanese Financial Services Agency (FSA) is taking a specific look at certain dapps that offer anonymous features or gambling, and often both.

One name cited in the report is Quantum (QTUM), which has recently broke ground in Japan with the help of Coincheck, a crypto exchange. However, in the case of QTUM, the project has consolidated its standing in the digital world by proving authorities that it has enough liquidity to provide consumers with a stable and reliable experience, something valued in the strictly regulated digital asset market in Japan.

According to QTUM, Japan has most likely approved the project owing to the company’s reliable technology and already proven track-record for running a digital asset product that can be relied upon and trusted.

Dapps have been increasingly popular within the community, enabling players to enjoy a new form of gaming. Samsung even allowed TRON dapps in its Galaxy Store, although some observers have protested that too much of the cryptocurrency’s value was now focused on gambling.

Meanwhile, though, casino games have been gathering a considerable momentum in Japan, and elsewhere. The gaming experience powered by the blockchain today has a focus on digital goods, and online casinos specifically.

However, companies such as FunFair Technologies have been able to create unique games that provide a completely ground-breaking gameplay, and especially in titles such as Fun Mountain, which should really offer regulators a more positive outlook.

FunFair already powers several casinos and has broken ground in Japan with a localised version of its CasinoFair brand.

Looking for your next crypto casino? Check out: Bitcasino, Gamb.co or FortuneJack.

Written by Tudor

Works as a developer and helps keeps the digital cogs turning. Leave them alone, they're busy.

Similar News