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  4. Japan is losing its place as the world's gaming capital because of crypto hostility
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Japan is losing its place as the world's gaming capital because of crypto hostility

A marked hostility toward new and emerging Web3 technologies like cryptocurrencies runs the risk of costing Japan its place as the world’s gaming capital. We’re getting...
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Japan is losing its place as the world's gaming capital because of crypto hostility Japan is losing its place as the world's gaming capital because of crypto hostility

A marked hostility toward new and emerging Web3 technologies like cryptocurrencies runs the risk of costing Japan its place as the world’s gaming capital. We’re getting dangerously close to the point of no return, and here’s why.

Nobody can be sure where the country’s antagonism to crypto originated or why it still persists even after the nonfungible token (NFT) and crypto “boom” of 2021, which took off in a major global way and prompted officials in the United States and Europe to backtrack on their initial antipathy for the space, finally opening up to regulations. The White House just released its first crypto regulatory framework in September 2022, and the European Parliament Committee followed up in October 2022 by approving the Markets in Crypto-Assets framework, also known as MiCA, with a landslide vote. As the first European crypto policy, the much-discussed MiCA text represents revolutionary progress in the direction of what many consider the future of the financial world.

Shinnosuke “Shin” Murata is the founder of blockchain games developer Murasaki. He joined Japanese conglomerate Mitsui & Co.in 2014 doing automotive finance and trading in Malaysia, Venezuela, and Bolivia. He left Mitsui to join a second-year start-up called Jiraffe as the company's first sales representative, and later joined STVV, a Belgian football club, as its chief operating officer, and assisted the club with creating a community token. He founded Murasaki in The Netherlands in 2019.

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