In a quest to deal with gambling and online scams within the blockchain gaming space, a Japanese organization named The Blockchain Contents Association (BCA) has proposed a new set of guidelines. BCA is a self-regulatory organization that came into being last month. The entity aims to protect users from blockchain-based gaming and social media content.
BCA Guidelines amid Japanese laws
Japan has a number of well-established casinos. However, gambling is still illegal in most places across Japan – be it online or physical. In this scenario, the BCA intends to safeguard blockchain-based gaming developers from any illegal inducement. Hence, the proposed guidelines.
These guidelines are in line with local laws including the Law for Preventing Unjustifiable Extra or Unexpected Benefit and Misleading Representation, the Payment Services Act, and the Financial Instruments and Exchange Act.
The idea is to clearly discriminate for gaming developers about what is gambling and what is not.
Hironao Kunimitsu, president of the BCA commented, “Through the new guidelines, we aim to help our users use content with peace of mind and contribute to the healthy development of the blockchain contents industry in Japan.”
More about the BCA
As of now, the association is comprised of 10 companies including – Hakuhodo, advertisers, public relations firms, gumi, Startbahn, and double jump.tokyo. As per BCA, all member companies will have to abide by a set of pre-requisites, which may also be revised in the future.
However, it is safe to say that BCA’s move is a step forward towards a legal and compliant adoption of blockchain gaming.