Enjin Coin Approved by Japanese Regulators

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  • Enjin coin (ENJ) has been authorized for trading in Japan by the Japanese Virtual Currency Exchange Association
  • ENJ is the first specialist gaming cryptocurrency to receive such authorization
  • Enjin has a solid reputation as a gaming platform and leads the way in blockchain gaming circles

Enjin Coin (ENJ) has been approved by Japanese regulators, making it the first gaming cryptocurrency to do so. Enjin announced on their website this week that the ENJ token had been cleared for trading on the country’s cryptocurrency exchanges, which is no mean feat given the increasingly tough regulations in the country. Enjin is also now allowed to promote its platform within the Japanese gaming industry, which is famously popular.

Coincheck to List ENJ Next Week

In the announcement, Enjin revealed the lengths to which they had to go in order to get their token authorized which included a one-and-a-half-year audit of Enjin’s project, business, and market potential. These strict new rules have been brought in by the Japanese Financial Services Agency who established the Japanese Virtual Currency Exchange Association in April 2018 following the $530 million hack on the Coincheck exchange. Coincheck will now host ENJ for trading, starting on January 26.

Enjin Could be a Project to Watch

ENJ may not be on many people’s lists as an A-list cryptocurrency, but it is definitely worthy of consideration. The cryptocurrency is the product of Enjin, a web-based gaming platform that launched in 2009, and the company has made huge inroads into becoming the eminent blockchain gaming token.

Since raising $19 million through an ICO in 2017, Enjin’s blockchain offering has met with huge success; in February 2019 they were announced as a partner in Saumsung’s Galaxy S10 groundbreaking cryptocurrency wallet, while a Microsoft partnership was announced a few months later. They have also released a plugin for Minecraft which allows players to bring blockchain assets into the game without needing any knowledge of coding.