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Japan Crypto Exchanges May Scrap System for Screening Tokens

  • Regulator would focus on policing assets once they are listed
  • Shift would be a boost for foreign newcomers like Coinbase

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, 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.