A country that leads the way in regulating the use of cryptocurrency is Japan, and they have taken this to the next level. The Financial Services Agency, which is Japan's regulatory agency for financial activities, has awarded the LVC Corporation (who have capital of $46,541,880) with a crypto exchange license. It is an exciting move as LVC Corporation is a blockchain and crypto-focused arm of LINE, which is a Japanese owned instant messaging giant who has nearly 600 million users worldwide.
It's incredible to think that practically every day, a new use case is discovered for cryptocurrency and blockchain. This continued growth is driven by innovative companies such as Dragon, who continue to explore the fantastic opportunities of the technology.
Despite the potential benefits, many companies remain sceptical about adopting blockchain technology into their business models because they believe the industry lacks regulation. But with many countries seeking more economic growth they have taken steps to ensure that crypto usage is fully regulated through KYC and AML measures.
The move indicates that Japan is reviewing its stance and is beginning to develop a more positive attitude toward the use of digital currencies. This is an exciting development for the region, and the industry as a whole, with governments and leading companies warming to the idea of digital currencies becoming mainstream alternatives to fiat currencies and credit cards.
Dragon creator of the world's number one entertainment coin continue to push for blockchain adoption, and they already offer seamless, inexpensive and fast payment transfers with easy conversion between crypto and fiat. Users can transact and interact through the free Dragon Social Wallet (DSW) app, where they can purchase, send, and receive Dragon Coin (DRG).
Interestingly, as more companies, businesses, agencies and governments begin to adopt blockchain and digital currencies, even the harshest critics have come to recognise how easy it is to conduct business with digital assets. This move by the Japanese regulator may serve as a portal that will speed up the adoption of digital currencies and blockchain for business transactions, as well as for many other purposes in the country.
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