Japan to allow start-ups to raise funds by issuing crypto instead of stocks: Report

The Japanese government reportedly plans to permit start-ups to raise public funds through the issuance of crypto, assets, such as currencies, instead of stocks, local media has reported.to a category of funds known as Investment Business Limited Partnerships . So far, Japan has lagged behind the rest of the world on embracing digital assets. However, this has been changing in recent months.

Japan's primary financial regulatory authority, the Financial Services Agency , made a significant move on August 31,thereby taking a more active role in cryptocurrency regulation. The noteworthy move is aimed at exempting local businesses from the year-end"unrealized gains" tax on cryptocurrencies. Japanese Prime Minister Fumio Kishida reaffirmed the country’s commitment to fostering the Web3 industry, in a keynote address on day one of the WebX conference in Tokyo, Japan. He highlighted its potential to transform the internet and kindle social change.from August onwards.

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