Japanese PM Says country plans to invest in NFTs & Metaverse

Fumio Kishida said that the country is moving toward another phase of digital transformations & also government agencies are closely studying & working to promote digital technologies. 

Japan is a tech-adaptive country in the world. The lawmakers of the country welcomed many new policies to bring a better level of blockchain technology adoption in the country. However, the country’s government showed blockchain-friendly stances but didn’t make better policies for the crypto sector, which is creating a big barrier wall between cryptocurrencies & citizens. 

This week, During a policy speech in Parliament House, Japan’s Prime Minister Fumio Kishida stated that the country is moving toward more digital technology adoption and under such initiatives, the country will invest in NFTs & Metaverse, which are based on blockchain technology. 

Kishida said:

“the country will continue to focus on “supporting the social implementation of digital technology” and will “promote efforts to expand the use of Web3 services that utilize the metaverse and NFTs.”

Earlier, in late September of this year, Japanese lawmakers decided to revise the Act on the Prevention of the Transfer of Criminal Proceeds, to bring strict rules for the crypto businesses. Through the revised regulatory rules, Japanese Government agencies are seeking to increase the ability of enforcement agencies to trace the crypto transactions activities & prohibit illegal crypto fund transactions.

Justin Sun, the founder of the biggest Proof-of-stake crypto network Tron, responded to these new efforts of the Japanese Government and said that the Tron blockchain team is continuously working on Web3-based development works. 

Justin is no more active in the crypto industry but still, he keeps promoting crypto adoption & his crypto projects Tron, JustSwap, Sunswap, Wink & Poloniex. 

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