There is a Definite Possibility of ICO Ban in Japan

Even though China has moved away by banning ICOs and exchanges, cryptocurrency has been moving without China. This led other countries Korea and Japan to take up the responsibility

Japan is one of the early investors of Bitcoin, has picked up a huge stake in the market, now trading about 63% of the world’s Bitcoin.

Many in Asia see Japan as the liberal safe haven for cryptocurrency, but according to Koji Higashi, co-founder of digital token wallet IndieSquare and an outspoken figure in Japan’s cryptocurrency scene -

Japan is still a risk-averse country and one that is also strongly conservative in nature. Higashi says he still sees an ICO crackdown as a “definite possibility”. He said:

“Japan’s not really ICO-friendly. Regulators are just more tentative. They’re just trying to figure out if it’s going to be good or bad. It doesn’t mean they won’t start regulating more heavily in the future when problems start emerging.”

He is optimistic that if ICOs come out looking good through the trials they face, then Japan will be leading the way.

“If ICOs turn out to be a really revolutionary concept … then Japan will have a head start and attract a lot of ICO projects.”

That’s already beginning to happen as companies worldwide are moving their projects to Switzerland and Japan, which would help those countries earn tax revenue.

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