According to Cointelegraph, WeFi CEO Maksym Sakharov pointed out that the main obstacle to the development of Japan's crypto industry is not tax policy, but its "slow, risk-averse" approval mechanism. Currently, launching tokens or launching IEO in Japan requires JVCEA self-discipline review and final FSA supervision. The process takes 6-12 months, resulting in many local projects choosing to be launched overseas. Compared with the more efficient regulatory frameworks in regions such as the United Arab Emirates and Singapore, Japan has multiple extensions in token review and product change notices. Experts suggest that regulatory authorities adopt a "risk-based time-sensitive approval" mechanism and establish a functional sandbox environment that supports staking and other functional purposes.