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<p style="text-align: justify">You can also read this news on BH NEWS: <a href="https://en.bitcoinhaber.net/japan-greenlights-cryptocurrency-for-local-investment-firms" rel="noopener noreferrer nofollow">Japan Greenlights Cryptocurrency for Local Investment Firms</a><br></p>
<p style="text-align: justify">The Japanese government is making strides in the cryptocurrency regulation landscape, with recent approval for local investment firms to acquire and manage crypto assets. This change comes as part of amendments to the Act on Strengthening Industrial Competitiveness, aimed at bolstering strategic investments in local ventures and mid-sized enterprises. The Japanese cabinet’s decision reflects an evolving approach towards embracing digital currencies and fostering innovation in the financial sector.</p>
<h2 id="investment-landscape-expansion">Investment Landscape Expansion</h2>
<p style="text-align: justify">With the cabinet’s endorsement, venture capital companies will now have the opportunity to back projects that generate cryptocurrencies. This marks a significant shift in the investment framework, where previously, Japanese venture capitalists were restricted from engaging in the crypto asset sphere. The new provision is set to be discussed in the legislative body, highlighting Japan’s commitment to adapting its financial regulations to the modern digital <a href="https://en.bitcoinhaber.net/crypto-continues-to-struggle-as-btc-remains-below-40000-amidst-key-us-economic-data" rel="noopener noreferrer nofollow">economy</a>.</p>
<p style="text-align: justify">The move is expected to aid local startups, which have often relied on limited partnerships, a preferred investment vehicle for venture capitals, particularly in the realm of unlisted companies. By allowing these limited partnerships to involve themselves with cryptocurrency, Japan is opening new avenues for domestic funding and enterprise growth.</p>
<h2 id="industry-leaders-react">Industry Leaders React</h2>
<p style="text-align: justify">Industry leaders, such as Hiro Kunimitsu, CEO of Gumi Inc., have expressed optimism regarding the new regulations. Gumi Inc., which operates its own blockchain investment fund, has previously noted the challenges Japanese crypto projects faced due to the absence of domestic venture capital investment in the sector. Kunimitsu anticipates that the updated regulatory stance will significantly benefit Web3 initiatives within Japan.</p>
<p style="text-align: justify">In line with Prime Minister Fumio Kishida’s policy on new capitalism, Japan is poised to enhance the Web3 industry actively. The country also revised its tax policy last December, which could exempt companies from paying taxes on paper gains from cryptocurrencies, further indicating a supportive stance for the burgeoning crypto market and associated technologies.</p>
<h5><span style="font-weight:bold;font-size:16px">The post first appeared on BH NEWS: </span> <a href="https://en.bitcoinhaber.net/japan-greenlights-cryptocurrency-for-local-investment-firms" rel="noopener noreferrer nofollow">Japan Greenlights Cryptocurrency for Local Investment Firms</a></h5>

Japan Greenlights Cryptocurrency for Local Investment Firms

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