Japan’s Approval Culture Is Blocking Crypto Growth: WeFi CEO
Japan’s regulatory bottlenecks, not taxes, are the real reason crypto innovation is leaving the country, according to Maksym Sakharov, co-founder and CEO of Web3 firm WeFi.
Sakharov told Cointelegraph that even if the proposed 20% flat tax on crypto gains is implemented, Japan’s “slow, prescriptive, and risk‑averse” approval culture will continue to push startups and liquidity offshore.
“The 55% progressive tax is painful and very visible, but it’s not the core blocker anymore,” he said. “The FSA/JVCEA pre‑approval model and the absence of a truly dynamic sandbox are what keep builders and liquidity offshore.”
Listing a token or launching an initial exchange offering (IEO) in Japan involves a two-step regulatory…
