Japan’s Slow Crypto Approval Process Holds Back Innovation, Says WeFi CEO

Source of this Article
Coinpedia 3 months ago 323

Japan’s Slow Crypto Approval Process Holds Back Innovation, Says WeFi CEO

The post Japan’s Slow Crypto Approval Process Holds Back Innovation, Says WeFi CEO appeared first on Coinpedia Fintech News

Maksym Sakharov, CEO of decentralized bank WeFi, says Japan’s slow and cautious regulatory process is the main reason Web3 startups and crypto funds are moving overseas—not the high taxes. Japan requires a two-step approval from the Japan Virtual and Crypto Assets Exchange Association and the Financial Services Agency, which can take 6 to 12 months or longer. This long wait time puts pressure on projects and forces many to launch abroad. Sakharov urges quicker, flexible approvals and supportive sandbox environments to help domestic crypto innovation grow.



Facebook X WhatsApp LinkedIn Pinterest Telegram Print Icon


BitRss shares this Content always with Attribution-NonCommercial-ShareAlike 4.0 International (CC BY-NC-SA 4.0) License.

Read Entire Article


Screenshot generated in real time with SneakPeek Suite

BitRss World Crypto News | Market BitRss | Short Urls
Design By New Web | ScriptNet