Enjin Becomes the First Regulated Gaming Token in Japan

Enjin Becomes the First Regulated Gaming Token in Japan

By Abhimanyu Krishnan | News | 20 Jan 2021

The Japanese Virtual Currency Exchange Association (JVCEA) has approved gaming focused cryptocurrency Enjin (ENJ) for listing on the Coincheck exchange, the Enjin team announced in a blog post on Jan. 19. The approval makes Enjin the first regulated gaming token in Japan.

  • ENJ will be listed on Coincheck on Jan. 26, joining 14 other assets in a select list; user will be able to trade it against Bitcoin (BTC) and the Japanese Yen (JPY)
  • The team said that the list was a result of its strategic partnership with Hashport, a Japanese accelerator it began working with in 2019; one of the goals of the partnership was to realize the approval of ENJ’s listing by a regulator
  • The JVCEA is a regulatory body authorized by the Japanese Financial Services Agency (FSA) to oversee activities in the crypto industry and market
  • Japan is one of the world’s strongest markets for video games, with a revenue of $15 billion in 2020
  • Enjin CEO expects this development will have impact on the wider ecosystem, saying that “some of the world’s best blockchain games will come from the Japanese gaming industry”
  • The news has had a strong effect on ENJ’s price, boosting it to by 40% in the last 24 hours to $0.406
  • Enjin’s reach in the video game industry includes Minecraft support via a plugin

Abhimanyu Krishnan
Abhimanyu Krishnan

Technophile, cryptocurrency enthusiast and journalist.


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