Japan’s slow crypto regulatory process pushes startups overseas: Expert
Japan’s regulatory landscape for cryptocurrency is hampering innovation and pushing startups overseas, according to Maksym Sakharov, co-founder and CEO of Web3 firm WeFi. The primary issue, he argues, is not the proposed 20% flat tax on crypto gains—which he calls “painful but visible”—but rather the country’s “slow, prescriptive, and risk-averse” approval culture [1]. This bottleneck, Sakharov explains, stems from a two-step regulatory process requiring self-regulatory review by the Japan Virtual and Crypto Assets Exchange Association (JVCEA) followed by oversight from the Financial Services Agency (FSA). Delays in token screenings, IEO white paper vetting, and product change notifications often stretch go-to-market…
