Cardano (ADA) finally receives regulatory approval to be listed in Japan
- Cardano (ADA) recently received regulatory approval that will allow its listing on Japan’s exchanges.
- The approval is very hard to receive, and only a handful of coins has received it so far.
- Furthermore, ADA is already scheduled to be listed on the BITPoint exchange later this month.
Japan is probably one of the first countries in the world to open its doors to cryptocurrencies to the extent that it did, and while many nations have gone more crypto-friendly since then, Japan still plays a major role in crypto history. However, that does not mean that Japan is not extremely strict when it comes to which coins can and can’t be supported.
According to Sebastien Guillemot, dcSpark’s CTO, it is extremely difficult for crypto assets to get regulatory approval for getting listed on crypto exchanges in Japan. This is what makes the fact that Cardano (ADA/USD) just managed to get the green light all the more valuable.
Are you looking for fast-news, hot-tips and market analysis? Sign-up for the Invezz newsletter, today.
Guillemot shared the news on his Twitter, confirming that ADA is finally approved for listing on Japan’s crypto exchanges, alongside a few other cryptocurrencies, including Bitcoin, Ethereum, XRP, Bitcoin Cash, Litecoin, Stellar, Tezos, NEM, Basic Attention Token, and Polkadot.
Guillemot continued by saying that the news is not only significant for Cardano itself, but also for the entire Japanese market, given that the importance of this listing is similar to that of Cardano getting on Coinbase earlier this year.
It is now only a matter of time when Cardano will reach its first Japanese exchange. So far, BITPoint seems to be one of the early movers, as it announced yesterday that ADA is scheduled to be listed on its platform at some point in late August. The exchange is wasting no time in listing Cardano, and it noted that the project was designed with high scalability, and it is expected that it will have many dApps.
Furthermore, BITPoint expects that the project’s smart contracts will be implemented strongly in the future. In other words, Cardano is expected to see strong growth down the line. If BITPoint has such a positive opinion regarding the project, it is not a stretch to assume that other local exchanges might think the same and that ADA might soon start announcing new listings.