According to BlockBeats, Japanese Prime Minister Shigeru Ishiba reorganized the Web3 and cryptocurrency policy departments of the Liberal Democratic Party on November 29. The Liberal Democratic Party will disband the existing Web3 project team and set up a special agency in the party's digital society promotion department, led by former Web3 PT Secretary-General Akihisa Shiozaki.
The government said it will continue to promote the development of Web3-related businesses. The new digital minister, Masaaki Taira, who previously served as the head of Web3 PT, advocates reforming Japan's cryptocurrency tax regulations. According to Ishiba's campaign platform, the government plans to use blockchain technology and NFT to promote local development projects and raise the value of local products such as food and tourism experiences to global levels.