- Japan has approved a transformative crypto bill.
- The new law will allow startups to raise funds via digital assets.
- Japan’s decision to empower startups could significantly impact the country’s digital asset market.
Japan’s fascination with the crypto industry is rapidly evolving as its government embraces the technology by pushing a series of crypto-friendly laws to propel it toward new heights.
Demonstrating its commitment to advancing the crypto sector, Japan has greenlighted yet another groundbreaking law poised to change the crypto landscape in the region.
Japan Crypto Scene Receives a Major Win
In a major breakthrough for the crypto landscape, the Japanese government has announced permitting startups and businesses to raise funds by issuing crypto assets instead of traditional stocks.
Reflecting Japan’s newfound interest in the digital asset space, the new system could have significant implications for the digital currency market in Japan. Startups in the country can now receive investment in the form of crypto assets under the updated Investment Business Limited Partnerships framework.
This new transformative law is expected to substantially expand the pool of potential investors in the country and attract a more diverse range of stakeholders. The decision could also boost demand for digital assets in Japan, increasing trading volume and market activity within the sector.
On the Flipside
- Japan’s Financial Services Agency (FSA) recently proposed to amend the tax code to exempt domestic companies from the unrealized gains tax on digital assets.
- Despite piling lawsuits, Binance has been working overtime to expand its offerings in Japan.
Why This Matters
Japan has yet to catch up to other jurisdictions regulating or embracing cryptocurrencies. However, the new law and proposed tax cuts could reshape the crypto landscape in the country and the region.
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