According to a Bloomberg report, Japan is progressing towards enabling venture capital firms and other investment funds to hold crypto assets directly. Prime Minister Fumio Kishida’s administration has agreed to submit a revised bill to implement this change, marking a significant development in the country’s approach to cryptocurrencies.
Prime Minister Kishida Backs Crypto Integration
Per the report, the cabinet under Prime Minister Kishida approved the bill’s text on February 16, as stated in a publication on the Ministry of Economy, Trade and Industry’s website.
The bill aims to partially amend Japan’s Industrial Competitiveness Enhancement Act, with provisions to include crypto as eligible assets that can be acquired and held by investment limited partnerships, commonly used by venture capital firms to secure capital for their investment activities.
According to Bloomberg, Kishida’s economic agenda for revitalizing Japan includes a focus on supporting the growth of We
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