Japan plans to further loosen cryptocurrency rules by making it easier to list virtual coins, potentially burnishing the country’s allure for Binance and rival foreign digital-asset exchanges.
The body that governs crypto exchanges plans to allow them to list coins without going through its lengthy screening process, unless the tokens are new to Japan’s market, according to documents seen by Bloomberg News.
The relaxed rule could take effect as early as December, helping startups compete with established players by smoothing the process of listing tokens and lowering the bar for market entry. The documents outlining the changes were distributed to member firms recently.