In Japan, cryptocurrencies are not a risk to financial stability, but the West does not know it

By Roberto D. | CryptoFarm | 3 Feb 2020

While in the West we tear our hair and make media terrorism for the possible (very eventual) launch of the Facebook cryptocurrency (pounds) which still remains only on paper in Japan, a country which is enormously more serious than any other state of those belonging to the Western block, Line, a giant of the local messaging that has an influence in the country perfectly comparable to that of Facebook in the West, continues to invest heavily in the crypto market.

The hilarious thing is that Japan has already given itself a reference regulation for the sector, even quite rigid, which instead of here in the West we have not done so much that (in Europe as in the USA) there are still huge legislative gaps.

Despite the rigidity of Japanese regulations, the regulatory clarity has allowed the LVC corporation (the multinational that controls Line) to enter the crypto market with a proprietary currency (Link, also substantially similar to Libra) and with an exchange of properties (BitMax) on which this currency has been traded since October 2018; all this, precisely because of the strict Japanese regulation, occurred at first abroad, while it is news of a few days ago (released with a press release on January 30th) that, finally, starting from next April, Line Link negotiations will also be able to start in Japan.

This news comes a few months after the launch in the country of the exchange, to start which LVC had to wait to obtain a license from the local financial authorities (which happened last September).

With the official launch of Link in Japan LVC will be able to allow Line users (a very popular app in the country) to access a wide range of decentralized services and applications.

While Facebook has been stopped by the rise of government shields (to the sound of threats) and Telegram has seen the launch of its token (Gram) blocked by the SEC, Japan moves with more conviction and in a much more serious way, legislating with great competence and in a way that is anything but careless, doing so both to protect investors and not to sink the crypto market in the country.

In all this, in the countries of the EU area and even in the USA, the institutions are moving with an exasperating slowness, so much so that, even today, there is no clear regulation that regulates the cryptographic industry and it does not even seem that the conditions may exist because the thing can change soon.

It is precisely this type of phenomena that make the center of gravity of the world move more and more towards Southeast Asia while the countries of the western bloc fall further and further behind, even compared to much poorer countries; therefore, it seems inevitable that at a sufficiently long period of time, Europe and the United States are destined to become what we have until now called (not without a thread of arrogance) third world.

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