Mike’s weekend message to QUOINE community (July 7th, 2018)

in #cryptocurrency5 years ago (edited)


I hope you are having a wonderful weekend.

Today is Tanabata in Japan.

People celebrate this day by writing wishes, sometimes in the form of poetry, on tanzaku, small pieces of paper, and hanging them on a bamboo.

I wished for the success of QUOINE, LIQUID, and QASH token, as well as the safety and security of fellow QUOINERS.

Now going back to my weekly update.

This week, we had multiple meetings with the JFSA.

I attended one meeting regarding best practices on disclosures and notification to token holders, specifically QASH token holders.

As you know, we are working closely with the JFSA to strengthen our governance, compliance and other improvement orders. During these times, we should keep our heads low and focus on making these improvements.

However, we also have fiduciary responsibilities to our QASH token holders.
We have an obligation to update our QASH token holders on milestones, material information on product development or company, and other potentially important information in a timely manner.

The difficulty is defining and executing on these obligations when the rules are not in place.

As we were the first token issuer to conduct a regulated ICO in Japan, it is our responsibility to lead this initiative and set best practices.
And that is why we work with the JFSA so that Japan will continue to be the leader in the global crypto industry.

Some people question or criticize Japan as being too conservative, but that is incorrect.

Japan is the leader in crypto and other regulators will follow….best practices in Japan will become the global best practices as well. Japan is simply ahead of the world.
Financial freedom can only be achieved within defined rules and boundaries.

I feel fortunate that we are located in Japan and work closely with the JFSA.
We will not escape, run away, leave, dismiss, or criticize regulators as slow or not understanding the crypto space.

For the crypto industry to go mainstream, it is absolutely critical to work with regulators and authorities. This will make us and the industry better and stronger.

At the same time, we will not compromise on innovation and disruption.

What we are trying to achieve with the LIQUID launch is simply groundbreaking.
As you saw from Andre’s AMA, we are very close.
Our MMO (Multi market order) works smoothly and is a game changer.

I am planning to do a live AMA sometime next week to talk about how I view our LIQUID initiative and my vision of our QASH blockchain. It will not be about the specifics but more around my vision.

Finally, I’m posting a link from our weekly Roundup by Tammy Ha!!

Please have a wonderful weekend.

It is exciting times!!

Mike K

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