- TRON has announced that they will be restricting the offering of gambling apps in the Japan market
- This is in compliance with the Japanese criminal code which bans gambling
- dApp Developers have also been advised to comply
TRON, by all accounts, is a leading force in the dApps market. They have managed to surpass giants of the industry like Ethereum and with their recent acquisition of CoinPlay, have ownership of the world’s only blockchain App Store.
Needless to say, TRON is determined to maintain their dominance in the dApps market, and they recently made adjustments to their international offerings to do so.
This week the foundation announced on their website that they will be restricting the offering of gambling-related apps in their Japanese market to adhere to regulations within the country:
“TRON has been striving to promote blockchain technology and diversify DAPPs on its platform while adhering to local laws and regulations across the globe.”
As per the statement published, TRON intends to put some restrictions in place to make sure that they comply with local regulations.
First, they have stated that they will not encourage or recommend any gambling DApps regarding the Japanese market. This is because gambling is banned by the Japanese criminal code.
These restrictions will not only be enforced on the part of TRON as Japanese developers have also been advised not to develop or promote gambling-related dApps using the TRON platform.
Also, any developers who create dApps that are for gambling have been advised to block users who have Japanese IDs. TRON will also cooperate with the Japanese authorities to to make sure that all regulations are followed and will take all necessary actions if any violations are detected.
Compliance necessary for adoption
While blockchain and cryptocurrency are decentralized, they are subject to the laws of whatever countries they are to be used in. Some places have instituted bans of various aspects of the industry such as cryptos and ICOs.
At the same time, restrictions exist based on cultural norms. In 2018, the first Islamic cryptocurrency exchange was created and complied with laid-down Islamic practices for trading and business.
This goes to show that blockchain and crypto companies still need to show compliance towards the laws of various nations to ensure that they can operate there with ease.