Japan's Approval Culture Blocks Crypto Innovation Despite Tax Reform


Japan's slow regulatory approval system remains the primary barrier to crypto adoption, not taxes, according to WeFi CEO Maksym Sakharov.


The current FSA/JVCEA pre-approval model can extend go-to-market timelines to 6-12 months, forcing many Japanese teams to list overseas first.


Token listings and IEO launches require a two-step process involving self-regulatory review followed by FSA oversight with multiple revision rounds.


Sakharov warns that even the proposed 20% flat tax won't shift the status quo without cultural changes around #approvals.


#Japan significantly lags behind Singapore, the UAE, and South Korea in processing speed for crypto-related applications.


The CEO recommends time-boxed approvals, functional sandboxes, and proportional disclosure requirements to improve the regulatory environment.

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July 28, 2025 at 1:07 AM
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