Shigeru Ishiba, Japan's new Prime Minister, faced immediate market friction as the Nikkei stock market plunged 5% on Sept 30 before officially taking the position on Oct 1.
Ishiba's policy supports NFTs and blockchain to boost the value of regional analog experiences like food and tourism and plans to continue the momentum in crypto set by pro-web3 predecessor Fumio Kishida, which included actions like:
⚫ Ending corporate unrealized crypto gains taxation.
⚫ Reviewing crypto regulations, potentially reclassifying crypto from a payment option to an investment tool.
⚫ Establishing a web3 policy office under METI.