Japan moves to ease crypto token listings after FTX collapse

Companies will be able to list coins without lengthy pre-screening unless tokens are new to Japan’s market

FTX founder Sam Bankman-Fried leaves Manhattan Federal Court after his arraignment and bail hearings earlier this month. Photograph: David Dee Delgado/Getty Images

Japan will make it easier for cryptocurrency exchanges to list tokens, pressing ahead with plans to liberalise the industry even after the epic failure of Sam Bankman-Fried’s digital empire.

The body that governs crypto exchanges informed member companies on Wednesday of the new rule which takes effect immediately, enabling them to list coins without going through a lengthy pre-screening unless the tokens are new to Japan’s market, according to documents seen by Bloomberg News.

Japan is relaxing onerous crypto rules even as the fallout from FTX’s meltdown continues to reverberate throughout the digital industry and beyond. Prime Minister Fumio Kishida’s administration has made growing the Web3 market a part of his economic policy and is likely to change corporate taxes next year to help crypto entrepreneurs. - Bloomberg