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Japan recently passed a groundbreaking bill that opens up new investment opportunities for local venture capital and investment funds.
This one legislative step marks a significant shift in Japan's approach to digital asset innovation.
In addition to this development, Japan has also defined frameworks for stablecoins and formulated plans to promote the growth of Web3 technology while prioritizing the protection of users in the sector.
The newly approved bill gives the go-ahead for venture capital firms to invest in and acquire crypto-assets, lifting previous restrictions. This amendment, part of the Industrial Competitiveness Act, aims to stimulate the creation of innovative enterprises and provide support to medium-sized enterprises and start-ups.
Officials from the Ministry of Economy, Trade and Industry (METI) responsible for approving the revision specified that it includes the addition of crypto-assets to the list of eligible holdings within limited liability investment companies.
Previously, Japanese venture capital firms faced barriers to investing in cryptocurrencies, prompting many local Web3 startups to seek funding from international sources.
In addition, the legislative changes also affect the legal treatment of crypto-assets for various entities, including the Industrial Property Information and Training Center and the Organization for the Development of New Energy and Industrial Technologies.
Japan's approach underscores its commitment to promoting blockchain innovation through regulatory frameworks rather than restrictive measures. With plans to pilot the digital yen as early as spring next year, the momentum toward wider adoption of digital assets appears to be gaining momentum.