Japan to allow exchanges list coins under lessen rules

NeuroticFish

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Quote from: SFR10 on October 20, 2022, 11:52:47 AM

I'm a bit surprised that the government of Japan has decided to open the gates to more issues, in exchange for profits:

Lure in crypto exchanges with relaxed listing rules ^{[most exchanges charge for it]} > More crypto exchanges acquiring licenses ^{[more money for them]}

Well, I suppose they do need more taxes, and fast. The JPY doesn't look great. (Still a surprising move, I won't deny that.)
I somewhat like the move, it could reverse the days the privacy coins got delisted from some major Asian exchanges, but on the other hand I fear they open the doors to all kind of shitcoins and scams.

joniboini

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Quote from: Solosanz on October 21, 2022, 05:18:34 AM

This is not a good news, it's better if they're cancel this proposal and continue to screen a coin before the exchanges list it. It would be better if they're do screening based on the use case of the coins, not from the marketcap only.

I mean the exchange itself will still pick which coin they are listing. If they don't do it and list scam coins I bet their reputation will go bad asap. They don't want to kill their own business, do they? While regulation is lessening, doesn't mean they don't need to protect their reputation if profit is their goal.

Solosanz

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Quote from: cabron on October 19, 2022, 12:03:57 PM

Lessen rules doesn't really mean they will list just about anything, they'd still be screening to hopefully a scam token will not be listed.

How you can say this? there's nothing being mentioned if they have a screening to not list a scam token, the tweet say without which mean no screening. I think Japan is actually want to get more taxes since they're allowing their exchanges to list any coins, this would make anyone can trade any coins and would increase the trading volume.

This is not a good news, it's better if they're cancel this proposal and continue to screen a coin before the exchanges list it. It would be better if they're do screening based on the use case of the coins, not from the marketcap only.

SFR10

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Quote from: Zaguru12 on October 19, 2022, 06:41:42 AM

and has they lessen these rules will these not lead to scams

Considering that there are a lot of creative scammers out there, no matter how tight/loose those rules are, they'll always find a way to do their thing ^{[unfortunately]}!

I'm a bit surprised that the government of Japan has decided to open the gates to more issues, in exchange for profits:

Lure in crypto exchanges with relaxed listing rules ^{[most exchanges charge for it]} > More crypto exchanges acquiring licenses ^{[more money for them]}

hugeblack

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Can someone explain to me what screen processing is? Or what are the requirements that are required for the platforms before they are listed? How will the listing process be removed?
I do not see how this news can be positive, because the most important thing is not the platforms, but cryptocurrencies themselves.

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Quote from: Zaguru12 on October 19, 2022, 06:41:42 AM

is this Japan's route to officially legalising cryptocurrency
and has they lessen these rules will these not lead to scams

This is the first thing that I have came to my mind, if it's official that there's no screening process but I guess at least there are some measurements and standards before they list a project.
That's going to make things easier because they've given already the requirements and standards before a project can apply for a listing. It's making also their job quicker in determining what the good projects are.
But that doesn't mean it will completely gonna give hard time for the scam projects to proceed, there could still be some ways but we have to know most of the details before having such conclusions.

cabron

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In general, I think it will be good in aiming to revitalize Japan’s crypto assets market as said by JVCEA Vice Chairman. This isn't the first time that Japan is doing this according to the article. This move seem a kickstart to push crypto to rally.

Lessen rules doesn't really mean they will list just about anything, they'd still be screening to hopefully a scam token will not be listed.

crwth

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I think this is a great way to say that they are being friendly in crypto, and since it is not the first time that they are doing this, we can expect that it’s going to continue in the long run. Japan has embraced crypto, and I hope that the exchanges there would list the ones who are worthy of listing or something like that.

YOSHIE

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Yes, that's right, Japan has recently begun to relax some of the rules related to crypto in general, the goal is to make it easier to register crypto and given the competition of exchanges to have their own charm especially about digital assets.

The draft agenda that want to implement includes, among others, what you mentioned above, by allowing crypto types to be listed on exchanges without problems, of course it will be made easier without many twists and turns, In this case there is an exception, namely a new type of coin that operates in the crypto market, especially in Japan.

I think there are positive points in the policies that Japan is currently doing towards the exchanges operating there, one of which is that it provides opportunities for new exchanges to start their pioneering easy in every way, whether it's coin registration, documents, distribution and so on, I think it's a good step to help revitalize the existing crypto market in Japan.

Zaguru12

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Japan has been in the news lately for its continuous lessen of rules concerning cryptocurrency.
They have now agreed to allow exchanges list coins without screen, is this Japan's route to officially legalising cryptocurrency
and has they lessen these rules will these not lead to scams

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Topic: Japan to allow exchanges list coins under lessen rules (Read 124 times)