Japan has made big changes to its tax system to meet the needs of startups in order to help its Web3 industry grow. Japan’s Minister of Economy, Trade, and Industry, Takeru Saito, said at the WebX Conference, which is Tokyo’s biggest event about cryptocurrencies, on August 28 that the government is committed to making the world a better place for companies and coders.
Saito stressed how important Web3 technology is and how much it could help Japan’s blockchain industry. He said that the government planned to change taxes in a way that would encourage the creation of new Web3 uses. This would make Japan a world leader in this fast changing field.
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The Japanese government thinks that Web3 is an important way to deal with many social problems. The Japanese prime minister, Fumio Kishida, recently talked about how Web3 and blockchain technology can help solve problems in society. He said again that the government was committed to making it easier for people to use Web3-related tokens, making digital payments more efficient, and bringing the content business back to life.
Japan is committed to Web3, as shown by its growing use of cryptocurrencies. A new study from Nomura Holdings and Laser Digital, the financial services company’s digital asset arm, found that more than half of the Japanese big investors they talked to plan to put money into crypto within the next three years. The poll of 547 investment managers showed that a lot of them see crypto as a good way to diversify their portfolios, a good way to protect themselves against inflation, and a high-potential financial chance.
Notably, 66% of those polled said they planned to invest 2% to 5% of their investments in crypto over the next few years, and 25% were optimistic about the future of digital assets in Japan. This rising interest is caused by new things like crypto exchange-traded funds (ETFs), investment trusts, and choices for staking and lending.
