The body that governs Japan’s cryptocurrency exchanges is in talks to abolish strict rules for listing digital tokens after Prime Minister Fumio Kishida’s administration expressed discontent with the existing system.
The Japan Virtual and Crypto Assets Exchange Association (JVCEA), which oversees digital coin listings, has held discussions about letting local exchanges list cryptocurrencies without going through its screening process, according to people with knowledge of the matter.
In a shift from its current stance, the self-regulatory body would focus on policing the assets once they are listed instead of being involved in the listing process, the people said, asking not to be identified because the talks are private. It’s also looking at whether member exchanges should be forced to delist digital tokens should problems arise after they start trading, they said.