Japan approves bill to allow venture capital firms to directly hold digital assets, promoting web3 firm growth.

Japan has approved a bill that could allow venture capital firms and investment funds to directly hold digital assets, such as cryptocurrencies. The bill, which seeks to amend the country's industrial competitiveness enhancement act, aims to promote the growth of so-called web3 firms. This move is expected to enable Japanese venture capitalists to invest in projects issuing virtual currencies and could revolutionize the way Web3 firms raise funding in Japan.

February 19, 2024
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