The Japanese government is reportedly planning to allow start-ups to raise public funds through the issuance of crypto assets, such as currencies, instead of stocks. This system is applicable to Investment Business Limited Partnerships (LPS). Japan has been slow to embrace digital assets, but this is changing. The Financial Services Agency (FSA) recently sought to amend the tax code related to cryptocurrencies, exempting local businesses from the year-end “unrealized gains” tax on cryptocurrencies. Prime Minister Fumio Kishida highlighted the potential of the Web3 industry to transform the internet and kindle social change. Binance recently confirmed that it would offer its services to Japanese cryptocurrency users from August onwards, after acquiring the local exchange platform Sakura Exchange Bitcoin (SEBC). The Japanese government has yet to provide more details on the matter. Meanwhile, experts have weighed in on how to protect crypto in a volatile market.

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Information	Details
Geography	Asia
Countries	🇯🇵
Sentiment	neutral
Relevance Score	9
People	Fumio Kishida, Sakura Exchange Bitcoin, Binance
Companies	WebX, Binance, KBW 2023, Sakura Exchange Bitcoin (SEBC), Financial Services Agency (FSA)
Currencies	None
Securities	None