Under the administration of Prime Minister Fumio Kishida, the Web3 project team of Japan’s ruling Liberal Democratic Party has released a white paper that offers suggestions for developing the nation’s economy.

While other countries are working to implement regulations to protect consumers, Japan is taking steps to improve the business environment for cryptocurrency. This move comes after businesses started leaving the country due to burdensome tax requirements.

The white paper encourages the use and development of current technology to support various industries, promote innovation, and invest in cryptocurrency and related technology. This approach is expected to increase economic opportunities in Japan and support the development of various industries in the country.

The white paper has been approved by the Japanese government and could serve as an action plan for implementing the proposals in the future. This could be a positive step in developing the Japanese economy and improving the business conditions for companies involved in cryptocurrency.