Japan Moves Closer to Allowing Venture Capital Firms to Hold Crypto Assets
Summary
Japan's cabinet has approved a bill allowing investment funds and venture capital firms to acquire cryptocurrency. The move is part of Japan's efforts to frame a regulatory framework for stablecoins and promote Web3, while maintaining strong user protection. The bill, which amends the Industrial Competitiveness Enhancement Act, aims to encourage new business creation and investment in industry, with a focus on supporting medium-sized companies and startups. The amended bill will now be introduced and debated in the current parliamentary session.
