The press release states that LVC Corporation, a subsidiary of the popular chat app Line, is preparing to develop its own system to publicly launch their proprietary LINK token in Japan this April.
In mid-October 2018, Line started trading LINK on an international digital currency trading website BitBox, but due to strict regulations in Japan, LVC had to await a license from the Japan Virtual Currency Exchange Association’s (JVCEA). LINE obtained the necessary license in September 2019, which pushed them to launch their own crypto exchange platform, BitMax. Currently, LINE is working to ensure that LINK will be made readily available on the exchange for Japanese users.
Moving into the digital currency sphere has proven to be very popular among social media and chat applications. LINE is also facing competitors such as Telegram, Whatsapp, Facebook and more. However, considering the stringent regulatory laws emerging across the world, some of these companies have been facing obstacles in their plans to launch their tokens. Notably, both Telegram and Facebook are still facing intense opposition from the US Securities and Commission.
For this reason, LINE is making sure to successfully launch LINK in Japan while complying with laws and regulations stated by the JVCEA.
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