Japan’s Ministry of Economy, Trade and Industry announced on February 16 that the Japanese cabinet has approved a proposal to add cryptocurrencies to the list of assets that local investment limited partnerships can acquire or hold. “The content of the amendment to the law on strengthening industrial competitiveness will expand support for strategic investment in small and medium-sized enterprises and startups,” the ministry said in the amendment published last Friday. The amendment will allow venture capital institutions to invest in projects that only issue cryptocurrencies, local news outlet Coinpost reported on Saturday. The ministry said in a statement that after the cabinet’s approval, the bill has been submitted to the legislature for deliberation. It is reported that Japan’s limited partnerships are usually used to invest in unlisted companies, which has become a common measure for venture capital institutions to invest in startups.
