The Japanese government has shown its care toward the cryptocurrency market by further loosening regulations on cryptocurrency listings. This is Japan’s latest move after the regulatory system that allows “foreign” stablecoins to circulate in this country.
- According to Bloomberg, the Japanese government has made the decision to ease the rules on listing cryptocurrencies, except for tokens, coins, or projects that are new to the Japanese market, the body that operates the exchanges is allowed to list cryptocurrencies without going through the same rigorous testing as before.
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- Investors in this country, find the recent government decisions very convenient and create many opportunities for them. Nishima Heiki, an individual investor, said that he hopes there will be more changes to create a bridge between Japanese investors and the world market, it is time for Japan to develop this potential market further to help build it into a leading industry.
- The Japan Times said this is a step on Prime Minister Fumio Kishida’s agenda to steer the Japanese economy towards “new capitalism,” with the development of blockchain and Web3 businesses.