CRYPTO NEWS TODAY: Japan Greenlights Venture Capital Investment in Crypto and Web3 Startups! ๐ฏ๐ต ไปฎๆณ้่ฒจ
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CRYPTO NEWS TODAY: Japan Greenlights Venture Capital Investment in Crypto and Web3 Startups! ๐ฏ๐ต ไปฎๆณ้่ฒจ
๐ฅ Breaking news from Japan! The Japanese cabinet has given the green light to a groundbreaking proposal allowing cryptocurrencies to be added to the list of assets that local investment limited partnerships can acquire or hold. ๐๐ผ This move, announced by the Ministry of Economy, Trade and Industry, is set to be a game-changer for the Web3 startup ecosystem in Japan. The approved revision, part of the Act on Strengthening Industrial Competitiveness, aims to expand strategic investments to support local startups and medium-sized companies. Now, venture capital firms can venture into projects exclusively issuing cryptocurrencies, opening doors to a new wave of investments. ๐๐ฐ This development addresses the previous restriction on VCs from investing in crypto assets under Japanese rules. Hiro Kunimitsu, CEO of Gumi Inc., sees this as a massive opportunity for Japanese Web3 startups, reducing reliance on foreign venture capitals for funding. ๐๐ค As Japan embraces 'new capitalism,' fostering its Web3 industry, this move aligns with Prime Minister Fumio Kishida's vision. Stay tuned for more updates on this transformative development! #JapanCryptoInvestment #Web3Startups #CryptoNews