Japan intends to make rules for the crypto industry easier by providing a more simple way for virtual coins to get listed on exchanges.
Related: Japan to Make Changes in Crypto Tax Laws
According to a release by Bloomberg, corresponding documents reveal that the authority governing crypto exchanges in Japan plans to allow the platforms to list tokens without the need of lengthy screening process unless the tokens are new to Japan's market. New rules may come into effect as early as December, making it easier for startups to enter the market.
Vice Chairman of the Japan Virtual and Crypto assets Exchange Association said there may also be updated rules by March 2024 related to pre-screenings for coins new to the nation, as well as for tokens issued via initial coin or exchange offerings.