The Japanese government’s new cryptocurrency policies have attracted new crypto companies. Japanese government investment In the Metaverse It started with the launch of the Web 3.0 Policy Office.
Fumio Kishida, the Prime Minister of Japan announced that the acceleration Invest in NFTs And the Metaverse market has become a major part of the government’s plans for the transformation of the digital space.
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Japanese government investment in Metaverse
The Prime Minister of Japan in his new speech about the government’s plans Investing in Web 3.0 technology unveiled According to Kishida, expanding the use of Web 3.0 services is a major part of the Japanese government’s digital transformation plans.
Kishida also stated that the Japanese government currently has several new initiatives in line Acceptance of the NFT market And Metaverse has implemented. Among these measures, we can mention the issuance of the law for the use of NFT in the jurisdiction. The Japanese government uses NFTs to solve its jurisdictional challenges. Kishida further added:
Our focus is to support the social implementation of digital technology in Japan. We will also strive to expand the adoption of Web 3.0 services that use the Metaverse and NFTs.
Easing cryptocurrency tax laws in Japan
Japanese government investment in Metaverse With the establishment Web Policy Office 3.0 It started in June. This office is under the supervision of the Secretariat of the Minister of Economy, Trade and Industry (METI). In this office, all the government departments that are responsible for creating and implementing policies related to the new metaverse technology have gathered.
Other measures taken by the Japanese government in order to accept digital currencies include the country’s new legislation. U.Today reported last month that the FAS has called for a temporary relaxation of corporate and retail tax rules for digital currencies, based on directives from Japanese Prime Minister Fumio Kishida.
The Japanese government’s change in regulatory policies will attract more crypto companies. US-based blockchain company Ripple (XRP) recently announced a partnership with design firm btrax. The two companies will work together to build Ripple’s Web 3.0 Design Lab. The main purpose of the XRP Ledger platform will be to help Japanese companies develop Web 3.0 business in the country.
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