WeFi CEO: Japan's approval mechanism hinders the development of the encryption industry.

According to Mars Finance, CEO of WeFi, Maksym Sakharov, pointed out that the main obstacle to the development of the Japanese encryption industry is not the tax policy, but its "slow, risk-averse" approval mechanism. Currently, launching a Token or initiating an IEO in Japan requires self-regulatory review by JVCEA and final supervision by FSA, with a process time of 6-12 months, leading many local projects to choose to debut overseas. Compared to the more efficient regulatory frameworks in regions like the UAE and Singapore, Japan has experienced multiple delays in Token reviews and product change notifications. Experts suggest that regulatory authorities adopt a "risk-based timely approval" mechanism and establish a supportive sandbox environment for functionalities like staking.