EOS Resurfaces and Receives Approval from Japanese Regulator - COINTURK NEWS
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EOS Resurfaces and Receives Approval from Japanese Regulator

1:05 pm (34 days ago)
August 30, 2023

EOS, one of the groundbreaking projects in the cryptocurrency market, has officially ended its long silence. While the ICO craze was still ongoing, EOS made history by conducting a $4 billion ICO. However, despite this achievement, EOS quickly lost its position in the top 10 with a relatively unsuccessful roadmap. It not only dropped out of the top 10 but also fell out of the top 50, currently ranking at 54th place.

EOS Breaks the Silence

After a prolonged period of silence, EOS seems to be taking action again. EOS has received approval from a state institution in Japan that evaluates the country’s cryptocurrency exchanges and assets. The regulator known as JVCEA has granted preliminary approval for EOS. The cryptocurrency can now be offered to users on Japanese cryptocurrency exchanges in the Japanese Yen pair. The number of cryptocurrencies that have managed to achieve this is quite limited. So far, Bitcoin, Ether, and Monacoin are among the cryptocurrencies that have obtained similar permissions.

JVCEA and FSA are the two key institutions responsible for regulating cryptocurrencies within the country. EOS stated that this is a significant step forward.

In mid-September, EOS will be available for trading on BitTrade, one of Japan’s largest cryptocurrency exchanges. BitTrade, one of the country’s largest cryptocurrency exchanges, announced its listing step with the latest regulatory news.

EOS Team Announces the News

Yves La Rose, CEO of EOS Network Foundation, stated that this is an “incredible and historic” achievement for EOS. The entry of EOS into the Japanese market is considered a major success, while its impact on the US market has significantly declined.

However, this news from Japan has caused a 9% increase in the price of EOS in the last 24 hours. Although EOS has reached $0.63, it is far from its all-time record level. Nevertheless, EOS continues to inspire investors with its all-time high above $20.

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