Industry regulatory group mulls easing of crypto listing rules in Japan

The Japan Virtual and Crypto Assets Exchange Association is considering making it easier to list digital tokens as part of efforts to entice more newcomers. The body governs Japan’s almost USD1tr market for cryptocurrency trading. The industry’s self-regulatory body is weighing whether crypto exchanges should be allowed to list more than a dozen coins in one go without a lengthy screening process. Recently, any token listing had to go through a screening that takes six months or longer, which makes it harder for new entrants to gain market share. Coinbase Global Inc., which started trading services in Japan in August through a local subsidiary, offers just five coins in Japan, compared with more than 100 in the US. No final decision has been made on whether to change the rules.