The body that governs Japan’s almost $1 trillion (¥114 trillion) market for cryptocurrency trading is considering making it easier to list digital tokens, people with knowledge of the matter said, a potential boost for newcomers like Coinbase Global Inc.
Under new rules the industry’s self-regulatory body is weighing, crypto-exchanges would be allowed to list more than a dozen coins in one go without a lengthy screening process, said the people who asked not to be identified discussing private deliberations. Until recently, any token listing had to go through a screening that takes six months or longer, they said.
The existing system makes it harder for new entrants to gain market share by offering a wider selection of tokens, according to the people. Coinbase, 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 U.S.
With your current subscription plan you can comment on stories. However, before writing your first comment, please create a display name in the Profile section of your subscriber account page.