Future

Prime

<ul>
 <li>Japan’s cabinet approves the inclusion of cryptocurrencies in investment portfolios.</li>
 <li>Legislative reform signals Japan’s commitment to digital innovation and growth.</li>
</ul>
In a major development for Japan’s financial landscape, the nation’s cabinet has greenlit a proposal that would allow cryptocurrencies to be included in the list of assets accessible to local investment limited partnerships.
This move, announced by the Ministry of Economy, Trade and Industry on February 16, marks a pivotal step towards bolstering strategic investments. It is aimed at supporting domestic startups and medium-sized enterprises.
Under the proposed revision to the Act on Strengthening Industrial Competitiveness, venture capital firms would gain the flexibility to invest in projects solely dealing with cryptocurrencies. This expansion of investment scope is poised to inject new momentum into Japan’s entrepreneurial ecosystem.
<h3 class="wp-block-heading" id="h-japan-web3-future-looks-bright">Japan Web3 Future Looks Bright?</h3>
The <a href="https://coinpost.jp/?p=511133" rel="noopener noreferrer nofollow">approval</a> of this amendment signals a departure from existing regulations, which had hitherto barred VCs from venturing into the realm of crypto assets. Hiro Kunimitsu, the founder and CEO of Gumi Inc., emphasized the significance of this shift. He noted that Japanese crypto projects had often faced hurdles in securing capital from foreign venture capitals. Kunimitsu expressed optimism that this regulatory change would unlock a wealth of opportunities for Web3 startups originating from Japan.
Meanwhile, the decision aligns with Prime Minister Fumio Kishida’s vision of fostering a vibrant Web3 industry under his “new capitalism” policy. The community believes that by nurturing innovation and entrepreneurship, Japan will be able to strengthen its position in technological advancement.
Moreover, this legislative move comes hot on the heels of Japan’s proactive stance on cryptocurrency regulation. The country has been at the forefront of shaping a regulatory framework for stablecoins. It is also emphasizing the importance of user protection. Japan had previously signaled its intent to ease restrictions for VC firms eyeing investments in crypto startups.
Finally, the cabinet’s approval has secured the amended bill for deliberation in the Diet, Japan’s legislative body. If the Diet passes it, could pave the way for a surge in investment inflows into Web3 startups. It ushered in a new chapter of growth and innovation in Japan’s digital economy.

Japan Approves Direct Crypto Investments For Venture Capitalists

Table of Contents

TheNewsCrypto

Другие статьи, опубликованные 19 февр. 2024 г.

Polygon (MATIC) future uncertain amid mass exodus into Kelexo (KLXO) as Bitcoin (BTC) continues t...

Cardano Founder Debunks XRP Conspiracy Theories in AMA

Backpack Exchange Partners with Banxa for Crypto On-Ramp Solution

E-commerce Giant Pushd (PUSHD) looks like best crypto investment over Solana (SOL) & Bitcoin (BTC...

Ethereum Catches Institutional Investors’ Eyes as ETF Prospects Brighten

What Will Be My Portfolio If HBAR Price Hits $1 in 2024?

Join our free newsletter for daily crypto updates!