Japanese PM Encourages Web3-Related Growth, Open to Modify Crypto Tax Legislation

  • In order to encourage Web3-related growth, Japanese Prime Minister Fumio Kishida has stated that he may be open to modifying the country’s crypto tax legislation.
  • Kishida spoke to parliament last week, saying that Web 3 may spur economic growth and hinting that he might be willing to go through with pro-business legislation reform.
  • The opposition Democratic Party for the People Leader Yuichiro Tamaki has been one of the most vociferous opponents of the present crypto tax policy, which entails crypto being categorized as miscellaneous income.

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