Shiba Inu Added to Japan’s Green List as Top 30 Crypto Assets Get Nod

Japan's Financial Services Agency (FSA) has finally put Shiba Inu (SHIB) on its Green List. Which is a big deal - the FSA...

Quick overview

  • Japan's Financial Services Agency (FSA) has added Shiba Inu (SHIB) to its Green List, recognizing it as a pre-approved digital asset.
  • SHIB is now listed on 8 exchanges, exceeding the minimum requirement of 3 to qualify for the Green List.
  • This approval enhances SHIB's credibility and could facilitate its entry into other Asian markets like South Korea and China.
  • The inclusion on the Green List marks a significant step for Shiba Inu in its journey to be taken seriously in the cryptocurrency space.

Japan’s Financial Services Agency (FSA) has finally put Shiba Inu (SHIB) on its Green List. Which is a big deal – the FSA has essentially told the world that SHIB is one of Japan’s pre-approved digital assets. This puts SHIB right up there with Bitcoin, Ethereum, and 27 other cryptocurrencies the FSA deems worthy.

The Green List was established in 2022 to make it easier to obtain approval for trustworthy tokens. When a cryptocurrency lands on the list, it tells investors and regulators that a project is on the up and up, which is a big deal if you’re trying to get noticed in the world of crypto.

Meeting the Bureaucratic Hurdles

To even be considered for the Green List, a cryptocurrency must be listed on at least 3 exchanges. Shiba Inu has blown this out of the water. They’re listed on no less than 8 exchanges across Japan. So when the FSA takes a look at a digital asset, they’re basically checking to see if it’s on the up and up – has it been transparent, has it taken care of security, and is it following Japan’s financial regulations as it should be.

  • The minimum number of exchanges required to get put on the list : 3

  • The number of exchanges SHIB is listed on: 8

  • The current number of cryptocurrencies on the Green List: 30

Getting this approval is a big deal for Shiba Inu. It’s the kind of thing that helps turn a meme coin into something the rest of the crypto world takes seriously.

Expanding Credibility in Asia

With Japan’s regulators now okay with SHIB, the team hopes this newfound credibility will help them get a foot in the door in other Asian markets. South Korea and China are two places looking to make a push, hoping to build on the trust they’re gaining by using the Green List to get noticed and attract big investors.

This is a big moment for Shiba Inu, marking a real step forward to becoming a mainstream cryptocurrency.

ABOUT THE AUTHOR See More
Arslan Butt
Lead Markets Analyst – Multi-Asset (FX, Commodities, Crypto)
Arslan Butt serves as the Lead Commodities and Indices Analyst, bringing a wealth of expertise to the field. With an MBA in Behavioral Finance and active progress towards a Ph.D., Arslan possesses a deep understanding of market dynamics. His professional journey includes a significant role as a senior analyst at a leading brokerage firm, complementing his extensive experience as a market analyst and day trader. Adept in educating others, Arslan has a commendable track record as an instructor and public speaker. His incisive analyses, particularly within the realms of cryptocurrency and forex markets, are showcased across esteemed financial publications such as ForexCrunch, InsideBitcoins, and EconomyWatch, solidifying his reputation in the financial community.

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