Fun

Japan’s GameFi community raises liquidity concerns with lawmaker

News Feed - 2024-02-21 05:02:32

Arijit Sarkar27 minutes agoJapan’s GameFi community raises liquidity concerns with lawmakerLiberal Democratic Party of Japan was told that strict regulations are drying up the liquidity of the Japanese crypto markets.391 Total viewsListen to article 0:00NewsOwn this piece of crypto historyCollect this article as NFTJoin us on social networksThe Japanese blockchain gaming community approached the Liberal Democratic Party (JDP) seeking help to improve liquidity in Japan’s crypto asset market.


On Feb. 21, Ryo Matsubara, director of Oasys, a GameFi blockchain, visited the LDP’s digital society promotion headquarters on behalf of Japanese blockchain gaming projects to discuss the current landscape.


Matsubara acknowledged that the recently implemented taxation laws and the LPS Act promote ease of doing business for startups. However, he raised concerns about strict regulations that have dried up liquidity in Japan, which directly harms the growth of the GameFi ecosystem.Make Japanese Web 3 market more liquid.

As the issue of corporate unrealized gain taxation and

LPS Act has been resolved, we can launch web 3 startups from Japan.

The next step is to improve liquidity in order to create an environment for growth.

I made presentation to… https://t.co/nj5tGxaEna— Ryo Matsubara_EN (@RyoMatsubara3) February 21, 2024


Regulations that incentivize users to safely invest in cryptocurrencies and the blockchain economy can see an immediate growth in liquidity with the influx of more buyers and sellers. Oasys plans to continue collaborating with the government to ensure the global competitiveness of the Japanese Web3 market. Matsubara believes in Japan’s potential to reclaim its iconic gaming history on Web3:“If Japan recovers its liquidity, it will be the hottest market as we have a lot of attractive content.”


While Japan was initially highly skeptical about crypto adoption, it has recently eased its stance toward the technology.


Related:Japan opens up Web3 investments for local VCs


In September 2023, the Japanese government reportedly began planning to allow startups to raise public funds via crypto asset issuance. At the time, Japanese Prime Minister Fumio Kishida reaffirmed the country’s commitment to fostering the Web3 industry. He also highlighted its potential to transform the internet and kindle social change.


More recently, the Financial Services Agency (FSA) — Japan’s principal financial regulator — suggested several measures to protect users from “unlawful transfers” to crypto exchanges, and one might seriously complicate the peer-to-peer (P2P) transactions market.


The FSA and the National Police Agency (NPA) encouraged banks to protect users by referring to several key initiatives, which includes:“Stopping transfers to crypto-asset exchange service providers if the sender’s name is different from the account name.”


The Japanese version of the press release explains that the suspension of crypto transfers with mismatched names should be extended to both individual and corporate accounts.


Magazine:‘Crypto is inevitable’ so we went ‘all in’: Meet Vance Spencer, permabull# Japan# Adoption# Community# Games# Blockchain Game# Liquidity# GameFi# RegulationAdd reactionAdd reactionRead moreBinance adopts USDT price cap to align with local rules in NigeriaMichael Saylor to forever buy Bitcoin — ‘No reason to sell the winner’

News Feed

Singapore, South Africa Latest Countries to Warn Against Crypto Exchange Binance
Singapore, South Africa Latest Countries to Warn Against Crypto Exchange Binance The list of regulators warning that Binance is illegally operating in their jurisdictions continues
Captain Tsubasa NFT soccer game debuts on Oasys blockchain
Ezra Reguerra25 minutes agoCaptain Tsubasa NFT soccer game debuts on Oasys blockchainMint Town CEO Hiroshi Kunimitsu said integrating into the Oasys blockchain lets fans experience the story in a new way.174 Total viewsL
Analysis: Crypto Heats Up As $35 Billion Enters Market In Under A Month
Reason to trust Strict editorial policy that focuses on accuracy, relevance, and impartiality Created by industry experts and meticulously reviewed The highest standards in reporting and pu
How Binance NFT Is Building the No․1 Gaming Metaverse
How Binance NFT Is Building the No․1 Gaming Metaverse sponsored Video games, the Metaverse and NFTs. Binance NFT has become the largest centralized gaming NFT marketplace. See wha
Gas-to-Bitcoin Mining Firm Crusoe Energy Systems Raises $505 Million
Gas-to-Bitcoin Mining Firm Crusoe Energy Systems Raises $505 Million On Thursday, the bitcoin mining and flare gas mitigation firm Crusoe Energy Systems Inc. revealed it secured $5
Starting My Journey Into the Metaverse by Throwing Tomatoes at Zuckerberg’s Face
Starting My Journey Into the Metaverse by Throwing Tomatoes at Zuckerberg’s Face Editor’s Note: The following story was written by Neomi, an author from China with experie
Reports Claim Beleaguered Crypto Exchange FTX Seeks Over $9 Billion From Investors
Reports Claim Beleaguered Crypto Exchange FTX Seeks Over $9 Billion From Investors On Nov. 10, 2022, two reports said that FTX CEO Sam Bankman-Fried (SBF) is canvassing for emergen
New Solana feature allows crypto transactions on any website
Ana Paula Pereira11 hours agoNew Solana feature allows crypto transactions on any websiteSolana Actions and blockchain links will allow users to create and share transactions via a URL on websites, social media platforms
Elizabeth Warren Explains Her ‘Anti-Crypto Army’ Stance; Waves of Democrats Oppose Her Bitcoin Criticism
Elizabeth Warren Explains Her "Anti-Crypto Army" Stance; Waves of Democrats Oppose Her Bitcoin Criticism Elizabeth Warren, the Democratic senator from Massachusetts, has recently l
Report: Deleted Files Indicate Crypto Lender Hodlnaut’s Execs Gave Little Weight to Terra Luna Exposure
Report: Deleted Files Indicate Crypto Lender Hodlnaut"s Execs Gave Little Weight to Terra Luna Exposure According to a report, the embattled crypto lender Hodlnaut saw a significan
Dogecoin Hits A ‘Blood In The Streets’ Moment: Buy Or Sell Now?
Este artículo también está disponible en español. Dogecoin (DOGE) has again found itself in the crosshairs of market watchers, with a “blood in the streets” moment em
Ripple to launch US dollar stablecoin, aims to compete with USDT and USDC
Gareth Jenkinson10 hours agoRipple to launch US dollar stablecoin, aims to compete with USDT and USDCRipple expects the stablecoin market to surpass $2 trillion by 2028 and aims to compete with Circle’s USDC and Tether