Home Column JCUA Aims at Making Safer Crypto Trading Market, Representative Director says UPDATE2

JCUA Aims at Making Safer Crypto Trading Market, Representative Director says UPDATE2

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  • JCUA as Japan CryptCurrency User Association
  • Japanese Crypto Market as Having Further Potentials

Japan CryptCurrency User Association(JCUA)’s Representative Director Eiji Edane was interviewed by TokenNews on market potentials in the Japanese cryptocurrency industry, along with JCUA overview and strategy.
JCUA has been established on May 22, just in this year, with a primary purpose for crypto users’ support, including knowledge and trading.
May 22 was named as Bitcoin Pizza Day since 2010, Bitcoin was used as a currency to purchase goods(pizzas) for the first time.    
A number of Japanese crypto beginners  still do not have basic knowledge on cryptocurrency payment and wallets, Edane said. He cited Roger Ver,World’s First Bitcoin(BTC) Investor and Bitcoin Jesus, as saying that users would still need to have a certain level of knowledge for the crypto trading.  
However, many Japanese use digital payment, he said, adding that the Japanese crypto market still has further potentials.
The cryptocurrency industry has grown through accidents and incidents even in Japan.
JCUA establishment would help crypto users gain relevant knowledge in this space for the safer trading, Edane noted.
So, JCUA is planning to start Cryptocurrency User Qualification Test (Tentative) operation primarily for the crypto user protection, Edane said. He previously produced a public test for mobile communication tools, along with its test operation in his past career.         
Edane also suggested a certificated trader license would be also needed, as those license holders, with basic knowledge and rules, would bring a safer trading, and the license system would prevent money launderings, along with crime and fraud.
JCUA, trying to have more than 100 companies and organizations as its members, ranging from retailers and manufactures in crypto related industry, is aiming to become an inevitable organization for the further growth of cryptocurrency market in Japan and in overseas, Edane said.  
Edane is also served as Chief Executive Officer(CEO) at PAYBIT. PAYBIT, a Tokyo-based real estate and staff service company and a member of Japan Cryptocurrency Business Association(JCBA), has a cryptocurrency business, according to its website.
by Genta Nakanishi