Enjin first gaming token regulated in Japan

Less than two years after entering the Japanese market, Enjin Coin has received approval from the JVCEA to list on the [...] https://www.pinterest.com/pin/1085437947660215829/

Less than two years after entering the Japanese market, Enjin Coin has received approval from JVCEA to list on the Coincheck exchange. The asset thus became the first gaming token approved for use in the Asian country. JVCEA Approves Enjin Coin Japan's Virtual Currency Exchange Association (JVCEA), launched after several high-profile exchange hacks in 2018, has received approval from the country's financial regulator, the FSA, to act as a self-regulatory organization to enforce strict regulations on the cryptocurrency ecosystem. Digital currency projects that wish to be listed and traded on Japanese platforms must first undergo a thorough review process. Coincheck - the exchange that was the victim of one of the biggest hacks, during which $535 million in NEM tokens were stolen - currently only lists 15 different currencies due to strict regulations. Now, however, a new coin has appeared on the exchange. Enjin, the team behind the popular Enjin Coin token has announced that it has received approval to list on a Japanese exchange. This comes after more than a year of research that Enjin conducted in partnership with HashPort. Enjin CEO Maxim Blagov highlighted Japan's significant role in the gaming industry and predicted that it will be the Asian market that will drive the next big projects in the field: From Super Mario to Pokemon and Final Fantasy, Japan is home to pioneering games that have a lasting place in pop culture. Japan's culture of innovation is directly linked to Enjin culture. We believe that some of the best blockchain games in the world will come from the Japanese gaming industry and we will be able to help them take full advantage of this powerful technology. The Japanese video game market is one of the fastest growing niches. The annual growth rate is 7.1% and the estimated revenue in 2021 is over $18 billion. Enjin Coin price explodes Following the announcement, Enjin's native cryptocurrency reacted with an immediate surge. ENJ cost as little as $0.23 before surging nearly 90% to a new three-year high of $0.43. This put ENJ one step away from following Ethereum's lead and painting a new ATH above $0.465. Despite the slight pullback to $0.37, Enjin Coin has entered the top 100 cryptocurrencies in terms of capitalization. Tags