Japan’s Approval Culture Is Blocking Crypto Growth: WeFi CEO

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Japan’s regulatory bottlenecks, not taxes, are the real reason crypto innovation is leaving the country, according to Maksym Sakharov, co-founder and CEO of decentralized onchain bank WeFi.

Sakharov told Cointelegraph that even if the proposed 20% flat tax on crypto gains is implemented, Japan’s “slow, prescriptive, and risk‑averse” approval culture will continue to push startups and liquidity offshore.

“The 55% progressive tax is painful and very visible, but it’s not the core blocker anymore,” he said. “The FSA/JVCEA pre‑approval…



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Japan’s Approval Culture Is Blocking Crypto Growth: WeFi CEO


Japan’s regulatory bottlenecks, not taxes, are the real reason crypto innovation is leaving the country, according to Maksym Sakharov, co-founder and CEO of decentralized onchain bank WeFi.

Sakharov told Cointelegraph that even if the proposed 20% flat tax on crypto gains is implemented, Japan’s “slow, prescriptive, and risk‑averse” approval culture will continue to push startups and liquidity offshore.

“The 55% progressive tax is painful and very visible, but it’s not the core blocker anymore,” he said. “The FSA/JVCEA pre‑approval…



Source link

Disclaimer

We strive to uphold the highest ethical standards in all of our reporting and coverage. We StartupNews.fyi want to be transparent with our readers about any potential conflicts of interest that may arise in our work. It’s possible that some of the investors we feature may have connections to other businesses, including competitors or companies we write about. However, we want to assure our readers that this will not have any impact on the integrity or impartiality of our reporting. We are committed to delivering accurate, unbiased news and information to our audience, and we will continue to uphold our ethics and principles in all of our work. Thank you for your trust and support.

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