Crypto investors in Japan can look forward to buying and selling Cardano as the fifth-largest crypto asset gets the green light for listing on exchanges operating in the country.
Sebastien Guillemot, the former executive of Cardano-founding entity EMURGO, says that getting ADA’s regulatory approval is no easy feat due to Japan’s “strict” rules involving the listing of cryptocurrencies on the country’s exchanges.
“Cardano was finally listed in Japan! ADA.
Japan has extremely strict rules for crypto exchange listings.
Only a small number of tokens can be listed in Japan, and ADA is now on that list!”
EMUGO confirms the news and says that Japanese crypto exchange Bitpoint will soon support the trading of ADA.
“As a company with Japanese heritage, EMURGO has been working with Japanese exchanges for some time, and we are happy that ADA [will be listed soon] on its first ever Japanese exchange, Bitpoint.”
According to Bitpoint, the handling of ADA is scheduled for later this month. The crypto exchange says it will make a separate announcement after deciding on the exact date.
In July, Reuters reported that Japan is looking to increase its manpower to oversee the regulation of digital assets. Reuters said an anonymous source unveiled that the Ministry of Finance is considering beefing up its staff and the Japanese Financial Services Agency created a new section to assist in regulating cryptocurrencies.