365Crypto
Japan’s Minister of Economy, Trade, and Industry, Takeru Saito, aims to attract global businesses and developers by fostering a supportive environment for Web3 growth. Japan is actively working to strengthen its Web3 sector, especially by promoting tax reforms that benefit startups in the industry.
Speaking at the WebX Conference on August 28, Saito emphasized the critical role of Web3 technology in shaping Japan’s blockchain landscape. He highlighted the importance of creating use cases for Web3 through tax changes, which he believes will help Japan position itself as a leader in the global blockchain and Web3 space.
Saito’s vision aligns with Japan’s broader strategy to apply Web3 solutions to various economic and social challenges. Prime Minister Fumio Kishida has echoed this sentiment, stating that Web3 and blockchain technology will play a key role in addressing societal issues. The government is committed to establishing a supportive framework for Web3 tokens, payment systems, and revitalizing Japan’s content industry.
The rise of cryptocurrency adoption in Japan has also been notable. A survey conducted by Nomura Holdings and its digital asset division, Laser Digital, revealed that more than half of institutional investors in Japan plan to invest in the crypto sector within the next three years. The survey included 547 investment managers, family offices, and public-service organizations.
The findings indicated that crypto is seen as a valuable tool for portfolio diversification, with other benefits such as a hedge against inflation, high return potential, and 24/7 market accessibility. Most respondents planned to allocate 2-5% of their investments to crypto in the coming years, reflecting growing confidence in the industry.
Japan’s focus on crypto exchange-traded funds (ETFs), investment trusts, and staking options further illustrates the country’s commitment to advancing its crypto market and Web3 future.
