Connect with us

Hi, what are you looking for?

Japan wants to boost the growth of Web3 by changing taxes to help startups
Japan wants to boost the growth of Web3 by changing taxes to help startups

Business

Japan wants to boost the growth of Web3 by changing taxes to help startups

Japan is about to speed up the growth of its Web3 industry with tax changes that will help new businesses. Minister Takeru Saito is in charge of the government’s work to make things easier for foreign businesses and coders. As Japan uses Web3 to solve social problems, interest in cryptocurrencies keeps growing. In fact, many large buyers plan to increase their crypto holdings over the next few years.

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.

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.

Advertisement

You May Also Like

Cryptocurrency

The Polish Financial Supervision Authority (KNF) recently issued a public warning about Crypto.com's operations, citing potential regulatory violations. This advisory, while not an outright...

Business

WalletConnect Foundation and Reown have announced new UX standards for blockchain wallets to improve interactions and increase adoption. Through WalletGuide and WalletConnect Certified, they...

Cryptocurrency

Beginning in mid-2025, Detroit citizens will be able to pay taxes and local fees using bitcoin, as part of a new drive to modernize...

Cryptocurrency

In this week's Crypto Chronicle, we explore the potential impact of Donald Trump's presidential victory on the crypto world, Elon Musk's massive $20 billion...

polkadot
Polkadot (DOT) $ 5.00 1.61%
bitcoin
Bitcoin (BTC) $ 91,605.54 4.17%
ethereum
Ethereum (ETH) $ 3,193.07 0.49%
cardano
Cardano (ADA) $ 0.566962 5.13%
xrp
XRP (XRP) $ 0.714166 5.85%
stellar
Stellar (XLM) $ 0.126314 0.66%
litecoin
Litecoin (LTC) $ 80.60 9.36%