Qadir AK

Qadir AK
Author
Qadir Ak is the founder of Coinpedia. He has over a decade of experience writing about technology and has been covering the blockchain and cryptocurrency space since 2010. He has also interviewed a few prominent experts within the cryptocurrency space.
Jul 26, 2025 13:06 UTC
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Japan’s Slow Crypto Approval Process Holds Back Innovation, Says WeFi CEO

Maksym Sakharov, CEO of decentralized bank WeFi, says Japan’s slow and cautious regulatory process is the main reason Web3 startups and crypto funds are moving overseas—not the high taxes. Japan requires a two-step approval from the Japan Virtual and Crypto Assets Exchange Association and the Financial Services Agency, which can take 6 to 12 months or longer. This long wait time puts pressure on projects and forces many to launch abroad. Sakharov urges quicker, flexible approvals and supportive sandbox environments to help domestic crypto innovation grow.

Japan’s Slow Crypto Approval Process Holds Back Innovation, Says WeFi CEO

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