The Japanese government approves a bill that would allow venture capital firms to acquire crypto assets. which if approved by the parliament The bill will encourage investment in Web3 startups.

Last Friday (February 16), Japan's Ministry of Economy, Trade and Industry announced that it has approved a bill proposing to amend the Industrial Competitiveness Enhancement Act to allow venture capital (VC) companies to directly invest in crypto and Web3 startups.

The legislative amendment aims to ease long-standing restrictions on VC firms' crypto holdings and stimulate the expansion of web3 businesses in Japan, as well as reduce barriers related to business operations. and fundraising for investment by limited partnership companies (LPS).

By after this The draft law will be forwarded to Japanese lawmakers for consideration and final regulatory approval. before it becomes effective in the financial system,This move is in line with Japan's efforts to support the crypto landscape and position itself as a leading global digital hub.
However, before the draft law was approved, Japanese venture capital firms banned from investing in crypto As a result, various Web3 startups in Japan have had to look for support from foreign investors.