Bitcoin SV (BSV) Becomes 15th Coin on Huobi Japan, Trading to Start in June


Cryptocurrency traders and investors in Japan will soon finally have the ability to trade and invest in Bitcoin SV (BSV), a fork of Bitcoin Cash that emerged in November 2018. The coin was recently listed on Huobi Japan, and the platform revealed that the trade will be available within days, allowing Japanese traders to use the coin for the first time since its inception.

Huobi Japan adds its 15th cryptocurrency

The project claims that it follows the idea that the original creator of Bitcoin, Satoshi Nakamoto, had in mind when he created the world’s first cryptocurrency. This is also the reason for the name of the coin – Bitcoin Satoshi’s Vision, or Bitcoin SV.

However, due to strict cryptocurrency regulations in Japan, the coin was not available for trading for the past three and a half years – until now when Huobi Japan decided to consider trading. to register. Of course, the exchange could not simply do this without the approval of regulators, which is why the Japanese regulator, the FSA, started verifying the coin since March 2021.

The coin was finally approved and Huobi Japan, one of the most popular local crypto exchanges, leaked the list yesterday, May 27, noting that the coin will soon be officially listed and available for trading in June.

Additionally, upon listing, the coin will become Huobi Japan’s 15th cryptocurrency, which means it will join a short and very selective list that the exchange has to offer. Of course, Huobi Japan lists all the tokens that Japan allows, which is not too much because its regulator is extremely strict and the crypto market is tightly controlled.

The lengthy registration process

BSV Blockchain Association Managing Director Patrick Prinz noted that this is a great development and shows the direction in which Japanese regulators are heading. In other words, they are ready to explore alternative blockchain solutions and possibilities that can be useful for businesses, as well as the citizens of the country.

Prinz said this during his speech at the first BSV Global Blockchain convention in Dubai, adding that the Foundation works with companies and officials around the world, including in Japan, to educate and inform people about the transformation of the project.

Even so, the road to actually getting listed has been a long journey. The verification process alone took over a year and included extensive risk analysis, extensive sponsorship requirements from a regulated exchange, and more. The association explained the strictness of the system using Huobi Global as an example.

Worldwide, the exchange has more than 400 cryptocurrencies listed in different subsidiaries, as well as its main platform. And yet, in Japan, there were only 14 coins listed before BSV joined the list to become the 15th.

With the listing on Huobi Japan, however, the FSA should soon make room for other Japan-based platforms to offer BSV listing on their exchanges.

Bitcoin SV had a controversial start, launching as a fork of Bitcoin Cash, resulting in a hash war that resulted in the second global crypto market price crash of 2018. However, since then the project has kept a low profile, and simply trying to do its job as a utility coin, while following what it believes to be Satoshi’s original Bitcoin vision.

To learn more, see our Investing in Huobi Token guide.


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