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[microunit]

Agencies in japan said that they are more likely to approve crypto projects in the country if those projects aren't involve in gambling dapps like casino. Regulators in japan also said they would accept new crypto projects if they have financial transparency. Other cryptocurrencies may also be accepted in the japanese trade market if they are clean from any gambling connections/projects

 

[Balint098]

Understandable move from the Japanese government side. This shows that there are way too many casino apps that accept crypto in Japan. Gambling should be regulated regardless of countries.

 

[Miya]

That's because gambling is illegal in Japan (except for some sports/motor betting, lotteries, etc.). They don't even allow casinos so there's no way they'll accept using crypto for gambling. As long as crypto is used "cleanly", I don't see why Japan would refuse it.

 

[Brain]

That's a good if that what will keep their economy clean then so be it. I think everywhere will need this regulation to help stem out criminal activities. It will help the masses avoid scam too.

 

[Wisdom01]

That's because gambling is illegal in Japan (except for some sports/motor betting, lotteries, etc.). They don't even allow casinos so there's no way they'll accept using crypto for gambling. As long as crypto is used "cleanly", I don't see why Japan would refuse it.

Motor betting is part of gambling?

Yeah they did well by accepting the idea of crypto useage ,I guess those who involve themselves in gambling using crypto will be brought to question

 

[Miya]

Yes, motorsports betting is considered gambling. But it's been made an exception so it's allowed in Japan now, along with some other sports like horse-racing. The exception list is limited though, they still don't allow betting on a lot of sports.

 

[Niftyicon]

At least they have no issue against Cryptocurrencies and that is a very good thing. The only aversion is to gambling and I think that is reasonable enough.

 

[microunit]

At least they have no issue against Cryptocurrencies and that is a very good thing. The only aversion is to gambling and I think that is reasonable enough.

agree, as japan has already major companies with "pachinko" probably they don't want something else to compete with those

 

[Niftyicon]

agree, as japan has already major companies with "pachinko" probably they don't want something else to compete with those

Isn't that some form of pinball game originating from Japan? I have seen some YouTube videos about that. I guess they don't really want any competition that could drive away attention from their own games.

 

[microunit]

Isn't that some form of pinball game originating from Japan? I have seen some YouTube videos about that. I guess they don't really want any competition that could drive away attention from their own games.

yep that's the pinball thing, but on normal society of japan, gambling is prohibited anywhere, but these pachinko businesses have a way to bypass this whereas unlike money for reward they are given like gift certificates and they can exchange those gift certifs for money in another store

 

[Wisdom01]

At least they have no issue against Cryptocurrencies and that is a very good thing. The only aversion is to gambling and I think that is reasonable enough.

I think there are most gambling site that are obviously in use of crypto currencies to gamble , maybe its the one they are highly against i think , so maybe is it

 

[Niftyicon]

I think there are most gambling site that are obviously in use of crypto currencies to gamble , maybe its the one they are highly against i think , so maybe is it

...and I think they have every right to be against it. They are probably able to generate some revenue from their own version of casinos and games which may not come from using Cryptos in gambling.

 

[Wisdom01]

...and I think they have every right to be against it. They are probably able to generate some revenue from their own version of casinos and games which may not come from using Cryptos in gambling.

Yeah i think you are right because most crypto gambling site are anonymous , so it would obviously be hard for them to start generating revenue from it , and tax are placed on those casino games to earm more revenue

 

[bitforex22]

This is good I too believe gambling projects are not that interested in the community rather filling their pockets is key for them

 

[microunit]

In entirety here is that Gambling is strictly prohibited in japan no matter in what form as I'm guessing it's in their law, but some "gambling" company in japan already found loopholes with this system whereas their business cannot be called gambling that's why they are still able to operate

 

[Niftyicon]

In entirety here is that Gambling is strictly prohibited in japan no matter in what form as I'm guessing it's in their law, but some "gambling" company in japan already found loopholes with this system whereas their business cannot be called gambling that's why they are still able to operate

There are always loopholes and those astute businessmen always try to find their ways through them. Gambling business is very lucrative, so I am sure many will want to find their ways around Japan's policies.

 

[Josemendez]

Agencies in japan said that they are more likely to approve crypto projects in the country if those projects aren't involve in gambling dapps like casino. Regulators in japan also said they would accept new crypto projects if they have financial transparency. Other cryptocurrencies may also be accepted in the japanese trade market if they are clean from any gambling connections/projects

I think it is a good thing because if allowed to exist in their country , it can render many of their citizens useless because gambling is very addictive . Japan is one of the countries that do not support gambling.

 

[microunit]

There are always loopholes and those astute businessmen always try to find their ways through them. Gambling business is very lucrative, so I am sure many will want to find their ways around Japan's policies.

yep, its because gambling is a big business and you can get tons of money everyday from people gambling everyday especially to those people who have gambling addictions, it's like you have charity for you everyday

 

[Josemendez]

yep, its because gambling is a big business and you can get tons of money everyday from people gambling everyday especially to those people who have gambling addictions, it's like you have charity for you everyday

True . However there can be a win that can take away almost all you have won in a day especially when there is huge win by more than 1 person .

 

[microunit]

True . However there can be a win that can take away almost all you have won in a day especially when there is huge win by more than 1 person .

I think that really rarely happens in gambling business as far as I know most of the machines are rigged to be like the machine has to win an X number of time or money before it can lose or give a reward to the person/player