On November 29, according to Cryptonews, Japanese Prime Minister Shigeru Ishiba restructured the ruling party’s Web3 and cryptocurrency policy-making departments. Digital Minister Taira Shoaki announced on November 27 at a forum that the Liberal Democratic Party would dissolve the existing Web3 Project Team (PT) and create a specialized agency within the digital society promotion department, headed by former Web3 PT Secretary-General Akihisa Shiozaki.
The government intends to continue supporting the growth of Web3-related businesses, and new Digital Minister Masaaki Taira, who previously led the Web3 PT, supports reforming Japan’s cryptocurrency tax regulations. Prime Minister Ishiba’s campaign platform includes using blockchain technology and NFTs to promote local development projects and enhance the value of local products such as food and tourism experiences on a global scale.
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