This would mark another step forward in Japan's Web3 push
, with PM Fumio Kishida recently expressing his support for the transformative potential of Web3 at the WebX conference.
In April, a faction of Japan's Liberal Democratic Party shared a document outlining plans for the growth of the national cryptocurrency industry, including changes in tax laws and clearer accounting rules. This is part of PM Kishida's"Cool Japan" technology promotion strategy that is meant to turn Japan into a cryptocurrency hub.follows former CFTC Chairman Chris Giancarlo's comments on Japan's potential for a crypto boom amid regulatory turmoil in the U.S.
The recent regulatory challenges faced by Binance and Coinbase in the U.S. might provide Japan, with its established legal framework, an opportunity to cement its position as a crypto-friendly nation.Alex Dovbnya is a cryptocurrency expert, trader and journalist with extensive experience of covering everything related to the burgeoning industry — from price analysis to Blockchain disruption. Alex authored more than 1,000 stories for U.Today, CryptoComes and other fintech media outlets.
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