LOGO_CRYPTO_SIGHT

Japanese BCA Established New Guidelines For Blockchain Gaming

By Mary T. | March 25, 2020
Japan-Regulator-May-Approve-Crypto-ETFs

The Blockchain Contents Association (BCA) has reportedly publicly revealed the arrival of a new set of guidelines, to offer certainty towards laws concerning gambling and online scams.

The BCA is a Japan-based organization, particularly established to strengthen the customer protection level of blockchain-based content, including gaming and social media.

Despite numerous cities across Japan joined races to host newly legalized casinos, the regional law still prohibits the act of online gambling and in person in a majority of situations. The guidelines established from the BCA is the first effort in assisting blockchain gaming developers to steer clear from any indiscretions. 

The guidelines further provides clarity to numerous local laws dealing with the gaming sector, nominally the Law for Preventing Unjustifiable Extra or Unexpected Benefit and Misleading Representation, the Payment Services Act, and the Financial Instruments and Exchange Act. 

One major aim of these guidelines to form a clear understanding for blockchain gaming developers, regarding that is legally perceived as gambling from the Japanese law’s perspective. 

For instance, should non-fungible tokens are issued in the same manner as “gacha” – a slot machines type of game that employs crypto – the association will advised against, as it has a high potential of being illegal. 

“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.” Hironao Kunimitsu, president of the BCA and founder of gumi, shared his thoughts regarding the development. 

Tags: , , ,

Related Articles

Comments