Pokemon Go PokeCoins Under Investigation In Japan

Posted: Aug 28 2016, 10:27am CDT | by , in News | Technology News


Pokemon Go PokeCoins Under Investigation in Japan
Photo Credit: Getty Images

The Japanese government looks into PokeCoins to find out if they should be regulated under financial laws.

The Japanese Financial Services Agency is investigating the currency in Pokemon Go. PokeCoins might fall under the laws for prepaid cards. According to Nikkei, Japanese laws for prepaid payment means requires issuers to record balances exceeding 10 million yen, about $99,500 and notify authorities. Niantic has certainly sold PokeCoins worth more than $100,000 in Japan since the launch.

The Japanese Financial Services Agency has according to the sources of Nikkei started to have hearings with Niantic. Earlier this year the government agency has found that the in-app items of popular chat app Line fall under the prepaid cards law.

For Niantic this issue could mean more paperwork. Pokemon Go is the top grossing app on iTunes since the launch on July 6. The app is not anymore in the top 10 free apps as the game has hit saturation. Analyst reports also see a significant drop in daily users of Pokemon Go. This does not mean that the hype is over. Just watch the new video of a stampede of Japanese trainers to catch a rare Lapras.

Trainers spend apparently a huge amount of money on items like PokeBalls and Lures. I am always amazed how much money mobile gamers spend in their favorite apps that are free to download, but make a ton of money with in-app purchases. People buy something that is pure digital and has in most cases no real-world value. 

As long as Niantic is not rolling out the Pokemon tracker feature in the app to all trainers, here is a list of available Pokemon Go maps, trackers and notifiers. Using any 3rd party Pokemon Go software can get your account permanently banned.

Find a giant Snorlax and other great gifts for Pokemon Go fans in our Pokemon Go Gift Guide and read the latest Pokemon Go News

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The Author

<a href="/latest_stories/all/all/2" rel="author">Luigi Lugmayr</a>
Luigi Lugmayr () is the founding chief Editor of I4U News and brings over 15 years experience in the technology field to the ever evolving and exciting world of gadgets. He started I4U News back in 2000 and evolved it into vibrant technology magazine.
Luigi can be contacted directly at ml@i4u.com.




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