Forex in this article
?? Cardano is listed on the Japanese crypto exchange
?? Strict regulations met
?? Cardano as a green Bitcoin alternative
Cardano has made the leap to the Japanese stock exchange. The Cardano ADA cryptocurrency has been trading in Tokyo since August 25 – despite the fact that the financial center is one of the most strictly regulated in the world.
Cardano ADA is accepted into exclusive club
Japanese customers could now trade Cardano ASA on BitPoint because the digital currency has managed to comply with the strict regulations applicable on the stock exchange. BitPoint is the first crypto exchange in Japan to enable trading with Cardano. Only a few other cryptocurrencies have been listed so far, including Bitcoin, Ether and XRP.
Charles Hoskinson, founder of the blockchain platform Cardano, said he was delighted with the news on Twitter that he had been expecting a long time for this day, and ended his tweet with a haiku by Matuso Basho, one of the most famous poets of the verse form, which is hugely popular in Japan .
Ada launching in Japan in ten minutes. I’ve waited a very long time for this day. Congratulations and thanks to the community there:
A monk sips morning tea,
the chrysanthemum’s flowering.
– Charles Hoskinson (@IOHK_Charles) August 24, 2021
Regulations don’t stop Cardano
In order to be listed on the stock exchange, the digital coin had to meet strict regulations, as the manageable number of cryptocurrencies that could achieve a listing in Japan shows.
In order to protect Japanese investors, who may be exposed to high volatility and other risks, especially in the crypto segment, the Japanese regulatory authority has launched its own crypto section, which examines and initiates regulatory measures in connection with initiatives in the crypto sector. – Trade Bitcoin with Plus 500 – that’s how it works. 72% of retail investor accounts lose money when trading CFDs with this provider. You should carefully consider whether you can afford the high risk of losing your money. – According to data from yahoo! Finance, however, some lawmakers in Japan consider this practice to be inadequate and believe that the current licensing rules are not strict enough. Citing calls to the tax authorities in Tokyo, the portal reports that the demands for tightening the regulations have recently become louder.
Cardano benefits as a green Bitcoin alternative
Meanwhile, many people on Twitter reacted positively to the news that Cardano’s cryptocurrency could be traded on a Japanese exchange, and many were convinced that Japan could raise its own profile in this context. The news was also positive for Cardano ADA itself, which was also reflected in the price development.
But the positive performance of the digital coin can also be traced back to another cause: the increasing environmental awareness of many crypto market participants. Due to its conception, Cardano is seen as a green alternative to the top dog Bitcoin, as the “Proof-of-Stake-Blockchain-Model” is used here, while Bitcoin & Ethereum use the “Proof-of-Work-Model”. The first method is considered more sustainable because this mechanism does not require a global network of computers to be in use at the same time when a transaction occurs. The high computing power required for this had recently brought sharp criticism of the Bitcoin in particular and was one of the reasons why the Tesla boss Elon Musk Has reversed payments with Bitcoin.
Finanzen.net editorial team
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