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TOKYO (BLOOMBERG) - The body that governs Japan's cryptocurrency exchanges is in talks to abolish strict rules for listing digital tokens after Prime Minister Fumio Japan’s cryptocurrency exchange governance body is in discussion with the prime minister to drop the strict screening rules of token listing. The decision was followed According to a Bloomberg report, as early as December of this year, the association wants to implement a looser screening process for already authorized exchanges Token listing on crypto exchanges in Japan could soon become a lot swifter than it currently is, reports say. The idea is that exchanges may not have to wait too long The sources told Bloomberg that the governing body discussed whether local exchanges should list cryptocurrencies without a screening process. It will work on reviewing

Japan May Abolish Token Screening Prior to Listing: Crypto Revolution Imminent?

Major changes are brewing in the Japanese cryptocurrency landscape! According to a Bloomberg report, Japan is considering abolishing the strict token screening process that currently governs the listing of digital assets on local exchanges. This could be a game-changer for the Japanese crypto market and its global competitiveness.

TOKYO (BLOOMBERG) - The body that governs Japan\'s cryptocurrency exchanges is in talks to abolish strict rules for listing digital tokens after Prime Minister Fumio Kishida signaled his support for Web3 innovation and crypto asset growth.

For years, listing a new cryptocurrency in Japan has been a lengthy and arduous process, often hindering the rapid adoption of new and innovative digital assets. Japan\'s cryptocurrency exchange governance body is in discussion with the prime minister to drop the strict screening rules of token listing. The decision was followed growing calls for a more streamlined approach to encourage innovation and attract investment into the crypto space.

Looser Screening Process Imminent

Token listing on crypto exchanges in Japan could soon become a lot swifter than it currently is, reports say. The idea is that exchanges may not have to wait too long for approval. According to a Bloomberg report, as early as December of this year, the association wants to implement a looser screening process for already authorized exchanges.

The potential shift could significantly boost liquidity and trading volumes on Japanese exchanges, making them more attractive to both domestic and international investors. This deregulation is also expected to fuel the growth of Web3 companies and projects within Japan.

Exchanges May Soon List Cryptocurrencies Without Screening

The sources told Bloomberg that the governing body discussed whether local exchanges should list cryptocurrencies without a screening process. It will work on reviewing the existing regulations to determine the best path forward. This review will likely consider factors such as investor protection, market stability, and the potential risks associated with listing unscreened tokens.

What This Means for the Future of Crypto in Japan

If implemented, the abolition of pre-listing token screening would mark a significant turning point for the Japanese cryptocurrency industry. It could:

  • Attract more innovative crypto projects to list on Japanese exchanges.
  • Increase trading volumes and liquidity in the Japanese crypto market.
  • Boost the adoption of blockchain technology and Web3 applications.
  • Position Japan as a more competitive player in the global crypto landscape.

While the details of the new regulations are still being worked out, the potential abolition of token screening is undoubtedly a positive development for the future of crypto in Japan. Stay tuned for further updates as this story develops.

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