According to CoinPost, Japanese Prime Minister Fumio Kishida responded to Liberal Democratic Party member Yoshiaki Hira’s argument on “the reason why Japan’s policy needs Web3” at the Budget Committee of the House of Representatives yesterday.
Kishida Fumio said:
“There are various possibilities for the flexible use of Web3. For example, DAO can also form a new community with people interested in the same social issues. NFT may also diversify the benefits of creators and can be used to Maintain and increase fan loyalty. Web3 may be a powerful tool for Cool Japan policy and regional revitalization.”
He gave an affirmative answer while actively using terms related to Web3.
It is reported that the “Cool Japan” policy put forward by the Japanese government in the second decade of the 21st century is an international strategy centered on the cultural industry.
On the other hand, as a current issue, a discussion at the Web3 study group held last year at the Digital Agency said:
“Because it is a new technology, local governments and businesses are hesitant to use it due to concerns about compatibility with existing systems. The case is assumed.”
The Japanese Prime Minister said:
“It is important to proceed with the consolidation of issues for technology utilization. It is necessary to consider what kind of support should be provided based on discussions in the Liberal Democratic Party.”
Users of cryptocurrencies in Japan have witnessed a number of changes during Kishida’s term in power, including Mt. Gox going forward with reimbursement procedures after years of legal hurdles and the reinstatement of cryptocurrency ATMs in the nation.
Regulators of Japan have started pressing regulators in the U.S., Europe, and elsewhere to subject cryptocurrency exchanges to regulations similar to those faced by banks and brokerages.
Japanese National Tax Agency also released a general tax treatment document related to NFT. In addition to listing the cases of vying for income tax on NFT, the guide also released cases of consumption tax and other situations. Because the acquisition and use of in-game tokens are very frequent and difficult to evaluate, they will be calculated uniformly at the end of the year.
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