### The cryptocurrency sector in Japan is set to receive a significant boost as the Web3 project team has approved a whitepaper outlining strategies to expand the industry. The Web3 project operates under the Liberal Democratic Party and the administration of Prime Minister Fumio Kishida.

The primary aim of the whitepaper is to streamline the operations of crypto businesses in Japan and reduce the possibility of them relocating to jurisdictions with more favorable tax systems.



One of the proposals in the whitepaper is to implement new rules under the Companies Act and the Financial Instruments and Exchange Act. The idea also advocates the formation of a DAO analogous to the limited liability corporation (LLC) in Japan.



In the whitepaper, Japan also suggests taking the lead in discussions surrounding cryptocurrencies at the upcoming Group of Seven (G7) summit. The 49th G7 Summit is set to take place in Hiroshima in May 2023.



The approval of the Web3 whitepaper is a significant development for the Japanese crypto industry, and it is expected to attract more businesses to the country. With the proposed regulatory changes, the industry will become more attractive to investors and businesses looking to operate in a stable regulatory environment.

The cryptocurrency sector in Japan is set to receive a significant boost as the Web3 project team has approved a whitepaper outlining strategies to expand the industry. The Web3 project operates under the Liberal Democratic Party and the administration of Prime Minister Fumio Kishida.

Mon Apr 24 2023

Japan PM Signals Japan's Support For Web3 As Crypto Industry Receives Boost

Ferrari to Accept Crypto Payments in the US; Plans to Include Europe Underway

Prototype Global Cryptoasset Mapping System Developed

FTX Founder Sam Bankman-Fried Sent to Jail for Alleged Witness Tampering

Huobi Rocked by Reports of Executive Arrests and Accusations of Customer Fund Misuse

Breaking The Chains: Introducing BRC-69, The Bitcoin Standard Without Data Restrictions

Prototype Global Cryptoasset Mapping System Developed

Mon Apr 24 2023 Japan PM Signals Japan's Support For Web3 As Crypto Industry Receives Boost

Ferrari to Accept Crypto Payments in the US; Plans to Include Europe Underway

Prototype Global Cryptoasset Mapping System Developed

FTX Founder Sam Bankman-Fried Sent to Jail for Alleged Witness Tampering

Huobi Rocked by Reports of Executive Arrests and Accusations of Customer Fund Misuse

Breaking The Chains: Introducing BRC-69, The Bitcoin Standard Without Data Restrictions

Prototype Global Cryptoasset Mapping System Developed

Mon Apr 24 2023

Japan PM Signals Japan's Support For Web3 As Crypto Industry Receives Boost