Japanese Prime Minister Fumio Kishida highlighted his country’s determination to become a leader in Web3 innovation at the WebX2024 conference. He discussed recent tax reforms to support Web3 startups, including the removal of the unrealized profit tax on digital currencies. Kishida also mentioned new legal changes that allow limited liability companies to invest in digital assets. He viewed these supports as part of his new capitalist policy aimed at balancing economic growth and social welfare. The Japanese Prime Minister emphasized that Web3 and blockchain technologies can play an important role in financial inclusion, revitalizing the content industry and intellectual property management. He also welcomed the rapid adoption of these technologies by the private sector and highlighted the government’s active role in making these developments happen.
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