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Tokyo-Based Association Announces New Guidelines for Blockchain Gaming

Tokyo-Based Association Announces New Guidelines for Blockchain Gaming

One group in Japan is discovering new methods to elucidate rules protecting unlawful actions within the blockchain gaming group.

The Blockchain Contents Association (BCA) introduced on March 24 that they’d written new tips to take care of legal guidelines associated to playing and on-line scams. A Japanese self-regulatory group established in February 2020, the BCA intends to advertise buyer safety for any blockchain-based content material, together with gaming and social media.

Avoiding violating Japanese regulation on the blockchain

Though many cities in Japan have explored establishing casinos, underneath native regulation playing on-line and in particular person continues to be unlawful in most conditions. The Tokyo-based affiliation’s tips are its first try to assist blockchain gaming builders keep away from any indiscretions. 

The tips additionally tackle native legal guidelines protecting Japan’s gaming trade, together with the Law for Preventing Unjustifiable Extra or Unexpected Benefit and Misleading Representation, the Payment Services Act, and the Financial Instruments and Exchange Act. 

One of the objectives is to make it clear to blockchain gaming builders what precisely is classed as playing in keeping with Japanese regulation. For instance, if non-fungible tokens are provided like “gacha” — a sport primarily based on slot machines that makes use of digital foreign money  — the affiliation recommends avoiding them. Such rewards are greater than doubtless unlawful.

Playing blockchain video games with peace of thoughts

Hironao Kunimitsu, president of the BCA and founding father of gumi, gave his ideas on the affiliation’s actions:

“Through the new guidelines, we aim to help our users use content with peace of mind and contribute to the healthy development of the blockchain contents industry in Japan.” 

The affiliation has stipulated there will probably be a “minimum number of requirements” with which their members must comply, which can even be up to date sooner or later. The transfer is an effective first step within the occasion blockchain gaming turns into mainstream.

Ten firms make up the founding members of the affiliation, together with Hakuhodo, advertisers, public relations corporations, gumi, Startbahn, and double leap.tokyo — the developer of My Crypto Heroes.

The Cointelegraph Japan interview on this article was contributed by Hisashi Oki.

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