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  Japanese crypto exchanges benefit from Chinese ICO ban | Bit Updates
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Japanese crypto exchanges benefit from Chinese ICO ban

Tuesday, October 10th, 2017 | bitcoin updates

China's East Asian neighbor seems to continue to benefit from the restrictive attitude of the People's Republic against cryptic stimuli. Chinese crypto refugees are increasingly turning to Japanese crypto exchanges to list new tokens. According to Coincheck, Japan's most powerful crypto exchange, there is currently a run on Japanese crypto exchanges – and it comes from China. The Chinese newspaper Global Times bemoans the outflow of many young companies from the People's Republic. According to Coincheck, since the announcement of the Chinese ICO ban about a month ago, "hundreds of requests" from Chinese or formerly China-based start-ups and blockchain companies had asked to list their tokens. This was revealed by Kagayaki Kawabata, Coincheck's Head of International Business Development. Especially for start-ups, which are planning a TokenSale within the scope of an ICO of their blockchain project, the development of the last month in China presents problems their solution now in Japan. Whether they are received in Japan with open arms, also depends on the quality of the targeted ICOs. If the Chinese tokens meet the criteria set by the Japanese crypto exchanges, Japan is the ideal location for issuing tokens, Kawabata continues. At the same time, however, one should be careful which ICO tokens should be listed at the crypto exchange. A careful consideration of the circumstances surrounding the token sale is indispensable when deciding whether an ICO is trustworthy. This cautious statement can certainly be seen in the context of recent developments in the Japanese crypto market. In the course of a planned regulation of the uncontrolled expansive Japanese market, there had been a new legislation on 1 October. This had aimed at a stronger surveillance of Japan's crypto exchanges, in order to establish certain standards and to prevent criminal activities. After an in-depth investigation, eleven Japanese crypto exchanges, which meet the necessary basic requirements, have been licensed with corresponding licenses. The shifting of the crypto activities from China to Japan seems to pay off the orderly regulation of the Japanese market. At the same time, it is, of course, all the more important for Japanese stock exchanges to scrutinize any potentially listable project. The run in Japan is also the continuation of a trend that had already been seen during the last month. BT-ECHOAbove Tobias SchmidtTobias has been since August 2017 as an editor in the team of BTC-ECHO. He graduated with a bachelor's degree in political science and economics from the University of Münster. During his studies, he also worked as a student assistant at the chair. In addition, he gained professional experience in parliamentary work and strategic communication before moving to journalism. Since 2017 he has devoted himself to blockchain technology, in which he is especially interested in the many different applications in politics, economics and society.View all posts by Tobias SchmidtPopular articles

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