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EOS Network Foundation

EOS Token Gains Whitelist Nod from JVCEA, Opening Doors To Japanese Markets

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In a groundbreaking move toward global recognition, the EOS Network Foundation has revealed its remarkable achievement of coveted whitelist approval from the Japan Virtual and Crypto Asset Exchange Association (JVCEA). This game-changing development sets the stage for a giant leap forward, as the token now garners approval for trading against the Japanese yen on regulated cryptocurrency exchanges within Japan, also highlighted in a recent blog post by the EOS Network Foundation.

The market responded with excitement as word of this significant achievement spread, propelling the token to a remarkable 9% increase and a valuation of $0.6279. The approval from JVCEA played a pivotal role in causing this surge, paving the way for greater engagement with the Japanese community encompassing users, developers, and investors. EOS is gearing up for its introduction on BitTrade in mid-September, fortified by licenses approved by Japan’s Financial Services Agency (FSA) and rigorous regulations within the cryptocurrency domain.

Renowned for its rigorous and robust regulatory framework governing digital tokens, Japan’s standards are second to none. Under the vigilant oversight of the Payment Services Act, both JVCEA and FSA meticulously supervise and regulate crypto-asset providers, mandating an exhaustive pre-screening process for any novel digital assets. EOS Network’s successful clearance of these exacting criteria underlines the company’s unwavering commitment to transparency, security, and trailblazing innovation.

EOS Network’s Victory And Global Impact

The visionary Founder and CEO of the EOS Network Foundation, Yves La Rose, underscored the magnitude of this achievement, emphasizing that this milestone is not just a victory for the EOS Network but also a triumph for the broader blockchain and cryptocurrency landscape. La Rose eloquently outlined the plethora of new prospects this approval will usher in, especially within the dynamic gaming sector, where strengthened ties with businesses and developers are poised to reshape the industry.

Japan is excited as Upland, a vast virtual world constructed on the EOS platform, expands its reach to Tokyo. This expansion has propelled EOS into the spotlight, attracting attention and adoption. With an impressive history of five years of continuous mainnet operation and featuring the powerful Ethereum Virtual Machine, the token has firmly established itself within the upper echelons of the blockchain realm. This accomplishment has garnered the admiration of both enthusiasts and developers, solidifying its position among the blockchain elite.

This endorsement is a significant achievement for the token, bolstering its position in the East Asian markets and highlighting its consistent performance and dependability. Backed by a robust network of connections and a remarkable history of achievements, the token is well-positioned to leave a profound mark on this region. This accomplishment further solidifies its role as a prominent global force within the blockchain industry.

The approval’s impact reaches beyond EOS, resonating through Japan’s crypto landscape. The token joining regulated exchanges boosts crypto acceptance. Complying with strict rules, the token sets a model, increasing trust. As EOS excels, its success guides global blockchain innovation, influencing Japan and the world.

Related Reading:| Binance’s Japan Expansion: CZ Verifies August Debut

EOS Network Foundation weighs to sue parent Block.one for $4.1 billion

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The EOS Network Foundation, the entity established to assist the EOS ecosystem’s growth, is exploring legal action against estranged parent Block.one, demanding $4.1 billion in damages.

CEO of EOS Network Foundation Yves La Rose made the announcement through his tweet. He wrote, ” As Founder of @EosNFoundation, I share your frustrations! We are taking further steps to hold @B1 accountable for its past actions and broken promises against #EOS—review of all possible legal recourse to seek $4.1B in damages underway. Let’s do this together! #4BillionDAO coming.

Much needed step to protect the interest of EOS community

He wrote in a blog that the foundation has appointed a Canadian law firm to evaluate Block.one’s activities and commitments to the EOS community and investors to see whether alternatives are available for legal proceedings. He mentioned that they are aware that many members of the EOS community feel that Block.one has not kept its word about earlier pledges. The community and individual EOS users have been affected as a result of their actions.

He added that in November and December 2021, they had participated in talks with Block.one to seek to establish a fair and reasonable conclusion with Block.one, which would position the EOS community for future success. He noted that “Block.one opted to walk away from the discussions and as a result the EOS Block Producers agreed it was in the best interest of the community to freeze the vesting of all the EOS tokens that Block.one planned to earn in the future.”

They had raised $4.1 billion in its initial coin offering (ICO) in 2018. La Rose laid the responsibility solely on the shoulders of its primary investor when the blockchain protocol fell short of expectations. The EOS community felt that Block.one has switched its focus and money, including its vested EOS tokens, to the new crypto exchange Bullish, which was introduced in May 2021.

On December 8, the EOS community chose to suspend payments to Block.one. The decision comes amid ongoing discussions among the community regarding the dependability of Block.one .They stated that the business had afflicted the network with centralization.