EOS Skyrockets 9% After Relisting On Regulated Crypto Exchanges In Japan
The EOS Network Foundation has achieved a significant milestone in its journey toward widespread adoption, as the EOS token secures whitelist approval from the Japan Virtual and Crypto Asset Exchange Association (JVCEA). This key development signals a major step forward, allowing EOS to be traded against the Japanese yen on regulated cryptocurrency exchanges in Japan.
EOS Token Jumps 9% After The News
The news has made the EOS token jump 9% and now trading at $0.6279. This JVCEA clearance is critical because it broadens EOS’s reach and accessibility to a larger audience of Japanese end users, developers, and investors.
Scheduled to begin trading in mid-September, EOS will make its debut on BitTrade, a respected cryptocurrency marketplace that holds licenses and regulations from Japan’s Financial Services Agency (FSA).
Japan’s stringent regulatory framework governing digital tokens is well-known for its thoroughness and strength. Governed by the Payment Services Act, the JVCEA and FSA meticulously oversee and regulate crypto-asset providers, requiring a meticulous pre-screening process for new digital assets. The fact that EOS Network has met these stringent criteria demonstrates the company’s commitment to transparency, security, and innovation.
Yves La Rose, Founder and CEO of the EOS Network Foundation, emphasized the significance of this achievement, stating, “Securing regulatory approval from the JVCEA is a monumental achievement for EOS, affirming our steadfast commitment to compliance.”
La Rose further highlighted the new opportunities that this approval opens up within the Japanese market, particularly within the gaming industry, as stronger connections with businesses and developers are forged.
EOS is already witnessing a surge in popularity and adoption in Japan, fueled by the successful expansion of Upland—a massive metaverse built on the EOS platform—to include Tokyo. With a remarkable track record of five years of mainnet operation without any downtime and a high-performance Ethereum Virtual Machine, EOS has solidified its reputation among both blockchain enthusiasts and developers.
Also Read: Ripple Moves 31 Million XRP After Grayscale’s Victory Against SEC
What Does This Mean For Japan’s Crypto Sector?
This endorsement promotes the EOS Network’s growth and adoption in East Asian markets, while also showing its dependability and performance. Because of established contacts and a good track record, EOS can leave a lasting effect in the area and strengthen its position as one of the top worldwide blockchains.
This permission has an impact on the entire Japanese cryptocurrency market because EOS’s entry into regulated exchanges increases the validity and acceptability of cryptocurrencies there. The EOS Network’s adherence to strict laws provides a good example for the sector, encouraging greater confidence and involvement from both investors and consumers. As EOS continues to grow, its success story acts as a guide for blockchain innovation both inside and outside of Japan.
Also Read: GBTC Share Price Jumps 17% After Grayscale Court Ruling, What’s Next?
- Can Hype Price Hit $50 After Robinhood Listing?
- XRP News: Ripple Unveils ‘Ripple Prime’ After Closing $1.25B Hidden Road Deal
- Traders Price In Two More Fed Rate Cuts This Year After Soft Inflation Data
- Crypto.com Joins Ripple in Banking License Bid Amid Industry Push for Market Structure Bill
- Breaking: U.S. CPI Comes In Lower Than Expectations, Bitcoin Rises
- HBAR Price Targets 50% Jump as Hedera Unleashes Massive Staking Move
- Chainlink Price Outlook: Analyst Predicts $100 as Reserve Adds 63K LINK
- SUI Price Prediction as TVL and Monthly DEX Volume Hit All-Time Highs- What’s Next?
- PUMP Price Prediction as Whales Accumulate 4.2B Tokens- Is 135% Rally Next?
- Dogecoin Price Crash Looms as Flag, Death Cross, Falling DOGE ETF Inflows Coincide
- Solana Price Prediction as Osprey’s S-1 Filing and Hong Kong’s ETF Launch Fuel Reversal Hopes- Is $250 Next?
Why Trust CoinGape
CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights Read more…to our readers. Our journal analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.
