EOS Network gains ground in Japan; EOS surges despite market troubles
August 31, 2023
By Michael Nderitu
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EOS secures regulatory approval to operate in Japan.
EOS price action makes a bullish attempt after the recent bottom range.
The EOS network achieved an important regulatory milestone that could potentially accelerate its adoption in the East. The network’s latest announcement revealed that the EOS network was now in a better position to penetrate the Japanese market.
EOS announced that it secured regulatory approval to operate in Japan. The approval issued by Japan’s Virtual and Crypto Asset Exchange Association (JVCEA) means the network now has a green light to expand its adoption legally into the Japanese market. This will also allow the EOS cryptocurrency to be traded on regulated crypto exchanges in the country.
Japan has a reputation for having a strict financial regulatory framework. Hence the EOS approval in the country validates the network’s efforts towards compliance. EOS founder and CEO Yves La Rose had this to say about the development.
“This landmark approval ushers in new prospects for EOS in the Japanese market, fostering stronger connections with discerning businesses and developers seeking robust blockchain solutions.”
The EOS CEO noted that Japan represented opportunities for growth, especially in the blockchain and gaming industries. Japan happens to be one of the leading countries in terms of technology. The development highlights the growing adoption of blockchain technology in Asia.
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