Tron Foundation guarantees complete cooperation with Japanese regulatory authorities

Tron [TRX], the eleventh largest cryptocurrency by market cap, continues to be in the limelight of the cryptocurrency space. On 31 March, the Tron Foundation made an announcement regarding Tron DApp promotion in the Japanese market, via an official blog post.

The Foundation stated that Tron was “now one of the biggest” blockchain-based dApps platform, with a “large number” of developers building and advertising dApps on the platform. It further stated,

“TRON has been striving to promote blockchain technology and diversify DAPPs on its platform while adhering to local laws and regulations across the globe.”

The exchange then clarified aspects pertaining to Research and Development and the promotion of Tron’s developer applications in Japan. With regard to the same, the Foundation focused on five important pointers and stated that they were strictly abiding by the rules and regulations put in place by the Japanese regulatory body.

The Foundation also stated that they neither “encourage” nor “recommend” developer applications connected to gambling in the Japanese market. Further, the Foundation added that they “suggested” all Japanese DApp developers refrain from building an application that encouraged or promoted gambling on Tron.

The blog post further read,

“TRON suggests developers who are working on gambling apps block users with Japanese IP addresses. Please do not facilitate the use of gambling apps among Japanese users”

Additionally, the Foundation would cooperate with Japanese regulatory authorities and “provide necessary support,” if any applications were found to be violating the country’s rules and regulations.

Misha Lederman, a Tron influencer said,

“Day 1: Japanese e-commerce giant Rakuten to launch own #crypto in June 2019 Day 2: Japan’s largest Railway company considers accepting #Bitcoin & other cryptos Day 3: #TRON advises DApp developers to comply w/ Japan’s law regarding gambling Growth comes through cooperation”

@producerknoidea, a Twitter user said,

“Japan embraces blockchain and tron . It’s just that gambling is illegal all across Japan.. No platform or technology will be above the law that’s why it’s important to work with regulators and maybe in due time some laws can be passed to help further assist blockchain in areas”

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