Line’s Bitbox crypto exchange which was launched in October 2018 has issued its link (LN) digital asset, which is available to users worldwide. According to a press release, LVC, the crypto subsidiary of messaging giant Line, announced it was preparing to launch the coin in Japan on its local cryptocurrency exchange BitMax as soon as April 2020.
Although BitBox cryptocurrency exchange has appeared on international in mid-October 2018, LVC had to wait to obtain a license from local financial regulators in September 2019 before launching its BitMax cryptocurrency exchange in Japan due to stricter national cryptocurrency regulations.
“Since launching on the BITBOX cryptocurrency exchange on October 16, 2018, LINK has been available to users worldwide except in Japan and the United States. Concurrently, LVC [Line subsidiary] has been preparing to roll out the coins in the Japanese market in accordance with the Japan Virtual Currency Exchange Association’s (JVCEA) official process to handle new digital currency....The coin’s official release date (currently scheduled to be in as early as April 2020) will be announced separately once it is determined.”
Line Will Offer Lots of Features
Throughout its official website, Link allows its holders to access a wide range of services and decentralized applications or Dapps. Besides Line, other social applications are currently attempting to establish its crypto economy, including messaging apps Kik, Telegram, Whatsapp and social media giant Facebook.
Kik and Telegram are currently struggling in legal battles with the United States Securities and Exchange Commission (SEC) over selling unregistered securities to U.S. Citizens.
The popular Canadian messaging app, Kik, announced its woes in September last year by pointing an imminent shutdown in light of channeling resources to an SEC court battle for the sake of its crypto, which is known as “kin.”
Lots of New Projects Coming
In October, Telegram claimed token, its TON (Telegram Open Network) blockchain, is a security that will delay its launch due to the U.S. Securities and Exchange Commission (SEC) filing suit against the group.
The company also refused to disclose financial information to the regulator, but it was reportedly rejected by the New York Southern District Court in early January. The SEC also recently moved against Telegram and suggested that Gram tokens are worthless given their lack of intrinsic value.
The Facebook stablecoin, named Libra, has also faced pushback from regulators.
With the approval of the Japan Virtual Currency Exchange Association (JVCEA), Line’s digital asset is expected to go more smoothly.