A $ 30,000 proposal submitted by the group that operates Dash’s Japanese website has just been approved to continue its efforts to register the token in Japan.
According to an update of a DashNexus proposal dated April 27th Dash Japan’s Yosuke Suda reportedly worked with the Dash Core Group to get DASH back into the hands of Japanese investors.
Sweat -identified as “Samurai33” – originally published the proposal on March 10 with the aim of “registering crypto” on the crypto exchanges registered in Japan and obtaining an equivalent status [a Bitcoin]””. He also hopes that DASH will be used for payments within the country.
As part of your proposal Dash Japan applied for $ 30,000 for memoranda from lawyers and accountants, and for trips for him and the Dash Central Group to Tokyoand Suda promised to send the money to a Central Dash Group wallet.
This proposal was adopted on April 27th. At the time of this issue, however, anyone who has been in the U.S. for the past 14 days – the Dash Core Group based in Phoenix – will not be allowed to enter Japan due to COVID travel restrictions. 19th
Removed from many exchanges
DASH has been systematically eliminated, a data protection-oriented cryptocurrency, from many crypto exchanges in Japan from 2018, including the major Coincheck exchange. According to Suda, this removal was based on a “common misunderstanding” by Japanese regulators that “Dash’s blockchain is private, untraceable, and cannot be audited.”“”
Is Japan longing for the resurgence of DASH?
Although there are no specific laws or guidelines in Japan specifically prohibiting DASH, The Japan Virtual Currency Exchange Association (JVCEA) has published guidelines that effectively exclude cryptocurrency from all local exchanges. Among them This includes regulations on cryptocurrencies that are difficult to understand, digital assets that are difficult to check, and those that are at risk of violating anti-money laundering (AML) and terrorist financing (ATF) laws..
Since March 2020 there have been 21 registered and licensed exchanges in Japan, but none of them have Dash on their platforms. This means that residents of Japan have no legal way to buy Dash. “
The submitted proposal sends memoranda written by lawyers and accountants to other crypto exchanges registered in Japan -23 at the time of this issue-, the JVCEA and the country’s Financial Services Agency. The latter is responsible for the changes to the rules for digital assets under the Payment Services Act and the Financial and Foreign Exchange Instruments Act, which will enter into force in Japan on Friday May 1st.
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