One of Japan’s organizations is seeking for fresh new approaches to illustrate the governance that covers illegal activities in the Blockchain Gaming community.
On March 24, the BCA (Blockchain Contents Association) disclosed that they had detailed some new guidelines to compromise with the laws that totally relates to gambling as well as online scams. A Japanese self-regulatory organization that got settled in February 2020, the BCA contemplates talking about the customer protection for the Blockchain-based content that occupies gaming as well as social media.
Refraining violating Japanese Law on the Blockchain
Although a number of cities in Japan have established casinos under the local law gambling online and is considered as illegal in most of the situations. Tokyo’s based association guidelines are just an attempt so that the blockchain gaming developers escape the lapses.
The guidelines expressed the local laws that mostly everytime covers about Japan’s gaming industry, indulge the Law for preventing indefensible Extra or abrupt advantages as well as evasive representation, about the Payment services act as well as the Financial instruments and Exchanges act.
According to the Japenese law, the goal is to get it clear to blockchain gaming developers, which is restricted as gambling. For instance, if non-fungible tokens are proposed like ‘gacha’, which is a game based on slot machines and dominates virtual currency, then the association approves avoiding it. The rewards are absolutely illegal.
Playing Blockchain games with peace of mind
The president of the BCA and the founder of Gumi, Hironao Kunimitsu, shared his views on the associate’s actions.
Over the new guidelines, we intent to aid our users to make use of the content with peace of mind and make sure to grant to the healthy development of the Blockchain contents industry in Japan.
So, this association has imposed that there will be in total fewer requirements of which their members require to adhere, which can also be updated in the future. So, this shift is the better step for the blockchain gaming that has become the mainstream now.
In total, ten companies create the founding members of the association that indulges advertisers, Hakuhodo, public relations firms, Startbahn, gumi as well as double jump.tokyo.
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