The Financial Services Agency of Japan is interested in such a phenomenon as PokeCoins. This is the currency that is used for the application Pokémon Go. So, does this currency fall under the requirements that are used in relation to prepaid cards?
To date, all express payment methods are regulated by Japanese law and there is a law obliging to inform the authorities about the amount of the balance if it exceeds 96,240 US dollars. And at the moment, the regulator is inclined to make a decision on regulation and PokeCoins.
This means that virtual currency will now have to be provided with significant amounts of deposits, real money.
So far, the Japanese regulator is the only one in the world that cares about this issue. But in fact, the situation is not as absurd as it seems at first glance. The level of sales of virtual currency in Japan is incredibly high, because it is here that the most users of games for mobile devices are. And the sale of virtual currency brings a lot of money, far from virtual.
Developers are watching with bated breath the development of events in Japan, because a positive decision on the adoption of legislation on the regulation of gaming currency can radically change the gaming industry for mobile devices.
