Japanese Web3.0 lawmakers call for further relaxation of cryptocurrency regulations

ChainCatcher News, Japanese ruling party Liberal Democratic Party member and Web 3.0 project team leader Masaaki Taira stated in an interview with Bloomberg that Japan needs to further relax regulations on the crypto industry.

It is reported that Japan had previously tightened regulations on the country's cryptocurrency industry, requiring the Financial Services Agency (FSA) to review and register cryptocurrency trading platforms, and imposing a tax of up to 55% on cryptocurrency gains.

In response to Taira's call, the organization overseeing local crypto exchanges—the Japan Virtual and Crypto Assets Exchange Association—is planning to simplify the lengthy screening process for listing crypto tokens on exchanges. (Source link)