Japanese financial regulator launches global blockchain governance initiative network

Japanese financial regulator announced on Tuesday the launch of its Global Blockchain Governance Initiative Network (BGIN).

According to Cointelegraph, BGIN aims to promote "sustainable development of the blockchain community." The Japanese Financial Services Agency (JFSA) announced this new initiative during a "BG2C" forum in collaboration with Nikkei.

BGIN will promote sustainable development in the DLT field by establishing "an open and neutral field to deepen consensus" among stakeholders in distributed ledger technology (DLT).

The project also hopes to develop a "common language among different stakeholders" and establish an open source information sharing network. JFSA will participate in BGIN as a stakeholder.

JFSA added that BGIN is in line with its G20 Osaka Declaration. BGIN is the third blockchain project of JFSA. Previously, it launched a blockchain roundtable in 2019 and a "multilateral joint research project" for DLT.

Participants in the blockchain roundtable include domestic and foreign regulators, financial institutions and universities. Universities and regulators from Abu Dhabi, Australia, Germany, France, Ireland, Dubai, Hong Kong, Singapore, the United Kingdom and the United States participated in the roundtable, suggesting that they may all work with BGIN.

Image source: Pixabay

By Liang CHE

This article is from bitpush.news. Please reprint the source.

We will continue to update Blocking; if you have any questions or suggestions, please contact us!

Share:

Was this article helpful?

93 out of 132 found this helpful

Discover more

Blockchain

Cardano Price Analysis: Expert Predicts a Strong Bull Run

According to respected crypto analyst Ali Martinez, Cardano (ADA) is expected to see a strong long-term price growth,...

Market

$100 Million Trading Volume Fuels Cardano's 3% Surge Is it the Beginning of a New Bull Market?

Fashionista Alert Cardano (ADA) on the Rise – Breaking Resistance Level May Indicate Bull Market, But Poor Fundamenta...

Blockchain

Cardano (ADA) Price Breakout: History May Repeat Itself 🚀📈

According to an analyst, Cardano's price has the potential to surpass $8 based on historical patterns. This suggests ...

Market

Emerging economies in Africa, South Asia, and Southeast Asia are leading the global trend of cryptocurrencies.

Emerging markets offer unique opportunities for the development of cryptocurrencies and blockchain technology.

Market

Analysis and Commentary: The Fate of Bitcoin ETFs and Cryptocurrency Performance

After a period of significant growth in the crypto market, traders were briefly shaken by a report causing a halt in ...

Blockchain

Cardano (ADA) Breaks Out: Is a New All-Time High on the Horizon? 🚀

Cardano (ADA) has made a notable price breakthrough, surging to $0.710 for the first time since May 2022 on Thursday....