Japan plans to allow certain venture capital institutions to directly invest in cryptocurrency and Web3 startups
The Japanese Ministry of Economy, Trade and Industry announced that the Japanese Cabinet has approved a proposal to add cryptocurrencies to the list of assets that local investment limited partnership companies can obtain or hold. According to a revised bill released by the ministry last Friday, "the revision of the Industrial Competitiveness Enhancement Act will expand support for strategic investments in small and startup companies." According to local news media Coinpost's report on Saturday, this revision will allow venture capital firms to invest in projects that only issue cryptocurrencies. The ministry stated in a statement that after the Cabinet's approval, the bill has been submitted to the legislative body and will be deliberated. It is reported that Japanese limited partnership companies are usually used to invest in unlisted companies, which has become a common measure for venture capital firms to invest in startups.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
Elon Musk 'shot down' OpenAI's ICO plan in 2018 over credibility concerns
Trump policies could take DeFi, BTC staking mainstream — RedStone co-founder
'There is a global race underway for Bitcoin' — Anthony Pompliano
Tether mints $1 billion USDt on Tron, pays zero fees — Arkham