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WeFi CEO: Japan's Approval Mechanism Hinders Crypto Industry Development
Summary: According to Cointelegraph, WeFi CEO Maksym Sakharov pointed out that the main obstacle to the development of the crypto industry in Japan is not tax policies, but its 'slow, risk-averse' approval mechanism. Currently, launching tokens or starting IEOs in Japan requires JVCEA self-regulation review and final supervision by the FSA, a process that takes 6-12 ...
According to Cointelegraph, WeFi CEO Maksym Sakharov pointed out that the main obstacle to the development of the crypto industry in Japan is not tax policies, but its 'slow, risk-averse' approval mechanism. Currently, launching tokens or starting IEOs in Japan requires JVCEA self-regulation review and final supervision by the FSA, a process that takes 6-12 months, leading many local projects to choose overseas launches. Compared to more efficient regulatory frameworks in regions like the UAE and Singapore, Japan experiences multiple delays in token reviews and product change notifications. Experts suggest regulatory authorities adopt a 'risk-based timely approval' mechanism and establish a sandbox environment to support functionalities like staking.
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Link: WeFi CEO: Japan's Approval Mechanism Hinders Crypto Industry Development [Copy]
