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Japan has passed a new bill in its parliament that allows investment funds and venture capital (VC) firms to purchase cryptocurrency stablelcoin assets.
Japan’s cabinet has approved a bill allowing venture capital (VC) firms to hold crypto assets, which is seen as an important step that will expand the ability of VC firms to fund Web3 startups. This bill could signal Japan’s entry into a new era of investment opportunities in the blockchain and cryptocurrency sector.
Japan Makes It Easier For Companies To Access Stablecoins
Japan makes it easier for companies to access stablecoins and another cryptocurrencies. The announcement by the Ministry of Economy, Trade and Industry stated that the bill approved by the cabinet allows VC firms to fund Web3 startups in exchange for crypto assets.
This step highlights Japan‘s efforts to promote innovation in the field of decentralized finance (DeFi) and Web3 applications and support the growth of new technologies.
Japan is taking a leadership role in developing a regulatory framework for digital assets, focusing on protecting investors while encouraging innovation.
The country has become a global pioneer in the digital asset space with its proactive approach to regulating stablecoins. Furthermore, reports indicating Japan’s intention to encourage investment in crypto startups and plans to loosen regulations for VC firms previously surfaced in September 2023.