According to the recent announcement by the Tron Foundation, it appears that the TRON dApp promotion is moving to Japan. The announcement, published on Sunday, March 31st, guarantees cooperation with Japanese regulatory authorities.
— TRON Foundation (@Tronfoundation) April 2, 2019
The announcement claims that TRON is currently ‘one of the biggest blockchain-based dApp platforms,’ with large numbers of developers who are creating and advertising its dApps. Further, they added that TRON has been promoting blockchain and dApp diversity across the globe, all the while adhering to local laws and regulations in different jurisdictions.
They guaranteed to treat Japan’s laws and regulations in the same way, remaining completely compliant at all times. The Foundation also clarified different aspects concerning Research and Development, as well as dApp promotion within the country. They listed five pointers, once again stating that they will strictly abide by the rules set out by Japan’s regulators.
However, they did note that they do not recommend nor encourage the dApps connected to gambling in the Japanese market. Not only that, but they added a ‘suggestion’ that Japanese dApp developers should refrain from creating such dApps on TRON networkTRON network.
This comes as quite a significant change, considering that the majority of TRON’s largest dApps are gambling-related, with only a handful of them not being either gambling or high-risk.
Further, the Foundation also suggested that developers working on gambling dApps block Japanese IP addresses, in order to prevent them from accessing. And, if any dApp on TRON blockchain violates the country’s regulations, the Tron Foundation will cooperate with the regulators and provide all the necessary support to resolve the issue.
Japan deepens its relationship with crypto and blockchain
Japan is known as one of the earliest crypto havens in the world, and it even started accepting Bitcoin as a legitimate payment option. Recently, the country started moving even further down the path of crypto and blockchain, as its e-commerce giant, Rakuten, announced the launch of its own cryptocurrency.
Further, Japan’s largest railway company also recently stated that it is considering accepting Bitcoin, followed by other cryptocurrencies. Now, it appears that TRON will expand to include Japanese developers, and provide support for its dApps in the country.
While gambling is illegal throughout Japan, and TRON dApps are mostly dedicated to gambling, it is unlikely that the move will have a large consequence on the price of TRON. It might not even significantly increase online trading.
However, this is a big opportunity for TRON to diversify its dApps further, and receiveive many new ones that have no connection to online betting. Meanwhile, Japan is a large and advanced market, and gaining support there will mean a lot for TRON’s future.
Right now, the coin is seeing quite a significant growth, which started by Bitcoin’s newest surge on April 1st. The largest cryptocurrency sparked a rally which allowed TRX to see massive gains and taking its price past several resistance levels, to the current $0.026255.
TRON price remains weak against Bitcoin for the time being, and it still holds the rank of the 11th largest coin by market cap, but its market cap saw a boost of its own, currently sitting at $1.7 billion. The recovery came suddenly, and it is unknown for how long it might last. It will likely be followed by a correction, but for now — the desire to buy TRON before its price gets even higher remains, which can be seen in the coin’s trading volume, which exceeded $589 million in the last 24 hours.