Coinspeaker
Japan Grants VC Firms Direct Crypto Investment Approval

Japan may have officially opened its doors to venture capital firms that are looking to foray into the lucrative realm of crypto investments. This follows after the Ministry of Economy, Trade and Industry announced on Friday, the decision to include crypto assets (virtual currency) in the list of assets that local investment limited partnerships (LPS) may acquire or hold.

It might be worth noting that the latest decision follows a revised proposal containing amendments to the Act on Strengthening Industrial Competitiveness. According to a local report by Coinpost, the Cabinet-approved bill will go a long way in helping local startups and medium-sized companies. However, that in itself is still subject to further deliberation and decision on the bill by the legislature.

Nonetheless, the Cabinet’s decision has set the tone for a potential legal reform that is set to allow Japanese venture capital firms (VCs) to invest in projects that only issue virtual currencies.

The announcement has been greeted with positivity from crypto enthusiasts and other industry stakeholders. More importantly, Japan’s Web 3.0 companies may now enjoy better access to the funds needed to conduct busi...