Prime

Bank AI

Impact

Japan’s Ministry of Economy, Trade and Industry (METI) has embarked on a strategy to foster the development of new businesses and industries by encouraging heightened domestic investments from limited partnership (LP) firms, particularly targeting the growing Web3 ecosystem.
In a significant move to achieve this, METI approved a bill aimed at bolstering domestic investments by amending several key acts, including the Act on Investment Limited Partnership Agreements.
Japan’s Prime Minister had in July last year&nbsp; <a href="https://thecoinrise.com/japans-prime-minister-acknowledges-the-potential-of-web3/" rel="noopener noreferrer nofollow">acknowledged the potential of Web3</a> at a global conference which brought together significant players, startups, companies, investors, government officials, media, and visitors from Japan and throughout the world.
<h2 id="b-japan-lps-to-invest-in-web3-startups-b">Japan LPs to invest in Web3 startups</h2>
One remarkable revision includes the addition of crypto assets to the list of assets that can be acquired and held by investment limited partnerships (LPs). This strategic amendment opens up avenues for LPs in Japan to invest in Web3 startups and medium-sized companies involved in cryptocurrency-related ventures, enabling them to share in the profits generated by these ventures.
<h2 id="b-impact-on-japan-s-web3-ecosystem-b">Impact on Japan’s Web3 Ecosystem</h2>
The initiative is expected to fuel the growth of the Web3 ecosystem within Japan, as local venture capital firms gain the ability to actively participate in funding crypto and blockchain startups. Previously, Japanese venture capital firms were prohibited from investing in<a href="https://thecoinrise.com/binance-japan-set-for-august-launch/" rel="noopener noreferrer nofollow"> crypto assets</a>. This has led many Web3 startups in Japan to seek support from overseas investors.
Masaaki Taira, a prominent member of the House of Representatives in Japan, announced the development, heralding the Cabinet’s decision to expand investment opportunities for LPs by incorporating crypto assets into their investment portfolios.
<h2 id="b-legal-considerations-for-digital-currency-b">Legal Considerations for Digital Currency</h2>
Furthermore, Japan is also addressing legal considerations surrounding the potential issuance of a digital yen, with plans to resolve these issues by the spring of 2024. Already, DeCurret Holdings, a financial technology company, has disclosed its intentions to introduce the DCJPY<a href="https://thecoinrise.com/digital-currency-backed-by-japanese-yen-to-debut-in-2024/" rel="noopener noreferrer nofollow">, a digital currency supported by the Japanese yen,</a> with plans for a launch scheduled in July 2024.
However, neither the Bank of Japan (BoJ) nor the government has officially confirmed the launch of the digital yen as discussions on the matter are expected to be part of a national dialogue scheduled for no earlier than 2026.
Overall, Japan’s proactive approach to embracing Web3 investments through regulatory amendments is indicative of its commitment to fostering innovation and promoting domestic investment in emerging technologies.
The post <a href="https://thecoinrise.com/japan-embraces-web3-ecosystem-innovation-for-local-vcs/" rel="noopener noreferrer nofollow">Japan Embraces Web3 Ecosystem Innovation for Local VCs</a> appeared first on <a href="https://thecoinrise.com" rel="noopener noreferrer nofollow">Latest News and Insights on Blockchain, Cryptocurrency, and Investing</a>.

Japan Embraces Web3 Ecosystem Innovation for Local VCs

Obsah

TheCoinrise Media

Ďalšie články zverejnené 19. 2. 2024

Finance Expert Predicts Bitcoin Will Touch $100,000 Soon, Here’s When

Japan opens up Web3 investments for local VCs

Surge in Solana Value Sees Cryptocurrency Near Highest 2023 Mark

Digitail Survey Highlights Growing Adoption of AI in Veterinary Medicine

Trending Cryptos: While Jupiter and Myro Encounter Setbacks, Scorpion Casino’s Crypto Presale Nea...

Top AI Tokens GRT, NEAR, AGIX Drive AI Sector Rally Amid OpenAI Sora Hype

Pripojte sa k nášmu bezplatnému bulletinu a získajte denné aktualizácie kryptomien!