{"id":127053,"date":"2023-07-25T08:19:46","date_gmt":"2023-07-25T08:19:46","guid":{"rendered":"https:\/\/dripp.zone\/news\/japan-pm-reaffirms-web3-plans-as-binance-announces-imminent-launch-crypto-news\/"},"modified":"2023-07-25T08:19:50","modified_gmt":"2023-07-25T08:19:50","slug":"japan-pm-reaffirms-web3-plans-as-binance-announces-imminent-launch-crypto-news","status":"publish","type":"post","link":"https:\/\/dripp.zone\/news\/japan-pm-reaffirms-web3-plans-as-binance-announces-imminent-launch-crypto-news\/","title":{"rendered":"Japan PM reaffirms Web3 plans as Binance announces imminent launch\n – Crypto News"},"content":{"rendered":"
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Japanese Prime Minister Fumio Kishida reaffirmed the country’s commitment to foster the Web3 industry, highlighting its potential to transform the internet and kindle social change. <\/p>\n

Kishida made the comments in a keynote address on day one of the WebX conference in Tokyo, Japan as initially Reported<\/a> by local media outlet CoinPost. On the same day, Binance CEO Changpeng Zhao announced the cryptocurrency exchange would launch its services on a new Japanese platform in August 2023.<\/p>\n

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Japanese Prime Minister Fumio Kishida addresses at #webx<\/a> <\/p>\n

\u201cWeb3 is part of the New Form of Capitalism\u201d pic.twitter.com\/Q3XFFQIRzb<\/a><\/p>\n

\u2014 WebX 2023 (July 25-26) (@WebX_Asia) July 25, 2023<\/a><\/p><\/blockquote>\n

Kishida highlighted Web3’s potential to drive innovation across industries and highlighted the event’s role in bringing industry players to Japan to drive collaboration:<\/p>\n

\u201cI hope that the Web3 industry will regain its attention and vitality, and that various new projects will be born.\u201d<\/p><\/blockquote>\n

EOS Foundation CEO Yves La Rose watched on from the crowd during Kishida’s address and tweeted that the prime minister’s words signal a welcoming attitude toward Web3 that is being fostered in Asia:<\/p>\n

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Here live at @WebX_Asia<\/a> and @JPN_PMO<\/a> Fumio Kishida just stated that Web3 is “the new form of capitalism”.<\/p>\n

While the West continues to antagonize blockchain companies, Asia is welcoming us in with their arms wide open.<\/p>\n

In Asia, the future is bright for crypto! pic.twitter.com\/eZ9puYdzoR<\/a><\/p>\n

\u2014 Yves La Rose (@BigBeardSamurai) July 25, 2023<\/a><\/p><\/blockquote>\n

Kishida went on to describe the Web3 sector as “the new form of capitalism” and hailed its the movement’s potential to drive growth through the “resolution of social issues”.<\/p>\n

The opening speech given by Koichi Hagiuda, Japan’s Liberal Democratic party’s Policy Research Council chairman, noted Japan’s efforts to establish a strict regulatory framework aimed at protecting investors that would form the basis of further promotional Web3 policies.<\/p>\n

Hagiuda also highlighted projects like the “Start Next Innovator” as key in driving the growth of Japanese-owned Web3 businesses. Japan’s Economy, Trade and Industry ministry project is sending 1,000 entrepreneurs and students to Silicon Valley over a five-year campaign to foster Web3 startups.<\/p>\n

Binance begins life in Japan<\/h2>\n

As Reported <\/a>by BNNBloomberg, Binance is set to offer its services to Japanese cryptocurrency users from August onwards. The company acquired the local exchange platform Sakura Exchange Bitcoin (SEBC) in November 2022.<\/p>\n

As the exchange outlined at the announcement<\/a> Of the deal, the 100% acquisition of the Japanese-registered crypto exchange service provider paved the way for Binance’s reentry into the country.<\/p>\n

Related: Japanese and Singaporean regulators join forces on crypto pilot project<\/a><\/em><\/strong><\/p>\n

June 2023 saw a flurry of headlines involving Japan and the Web3 sector. The national tax agency Revised<\/a> legislation which exempts token issuers in the country from paying corporate taxes on unrealized cryptocurrency gains. <\/p>\n

Magazine: How smart people invest in dumb memecoins: 3-point plan for success<\/a><\/em><\/strong><\/p>\n