Posted 2/19/2024, 11:00:00 AM
Japan Relaxes Crypto Laws, Courts Web3 Startups with Tax Cuts and VC Funds
- Japan is updating its laws to allow more investments in web3 and crypto startups, aiming to boost its tech sector
- A 2024 act will allow venture capital partnerships to invest in crypto assets
- Corporate taxes on third-party cryptos will be reduced, mirroring individual taxes
- Major financial firms like SBI are launching multi-billion funds targeting web3 and metaverse startups
- Japan's government has a 5-year plan to grow startup investments to ¥10 trillion by 2027