【Japan's New Prime Minister Restructures Web3 and Cryptocurrency Policy-Making Department】

On November 29, news emerged that Japan's Prime Minister Shigeru Ishiba is restructuring the ruling party's Web3 and cryptocurrency policy-making department. Digital Minister Hirataka Masaki announced at a forum on November 27 that the Liberal Democratic Party will dissolve the existing Web3 project team (PT) and establish a dedicated agency within the party's Digital Society Promotion Department, led by former Web3 PT Secretary General Akihisa Shiozaki. The government stated it will continue to promote the development of Web3-related businesses. The newly appointed Digital Minister Hirataka Masaki previously served as the head of the Web3 PT and advocates for reforming Japan's cryptocurrency tax regulations. According to Ishiba's campaign program, the government plans to utilize blockchain technology and NFTs to promote local development projects, elevating the value of local products such as food and tourism experiences to a global level.