Japan is a powerhouse in the cryptocurrencies market, trading about 63% of the world’s Bitcoin. However, ban of Initial Coin Offering (ICO) by some Asian countries has investors worried that Japan could follow suit.
ICOs are the new radical form of crowdfunding. Companies are raising funds in the form of cryptocurrencies through selling crypto tokens to investors. ICOs are now a go-to method for many companies as it allows investors to benefit more directly from new technologies as opposed to traditional stock.
Japan, which now recognizes Bitcoins as legal tender, is one of the biggest champions of cryptocurrencies. Japan’s fundamentally different approach to cryptocurrencies positions it as the much-needed savior for ICOs. According to Kagayaki Kawabata, Coincheck’s head of international business development, requests to list tokens on its exchange increased after China’s ban.
Full article here: https://www.cryptocoinsnews.com/japan-may-no-longer-be-a-safe-haven-for-icos/
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