Japan’s Crypto Industry Faces Delays in Token Launches Amid Regulatory Hurdles, Says WeFi CEO

Key Points

1. Japan's regulatory approval process, not tax policies, is the main hurdle for its crypto sector growth.

2. The current process involves stringent self-regulatory evaluation by the JVCEA followed by FSA oversight, taking 6 to 12 months for token launches or IEOs.

3. Other jurisdictions like the UAE and Singapore benefit from more streamlined regulatory processes.

4. Industry specialists recommend a risk-based, expedited approval mechanism and a regulatory sandbox to encourage innovation in areas like staking.