During his keynote address at the WebX conference in Japan, Fumio Kishida referred to Web3 as a “new form of capitalism.”
Japanese Prime Minister Fumio Kishida passionately reaffirmed the country’s commitment to promoting the revolutionary Web3 economy in a stirring keynote speech at the WebX conference in Tokyo. Kishida highlighted his ambition for the Web3 industry to thrive and give birth to various innovative projects, realizing its potential to transform the internet and spark societal change.
At the occasion, Binance CEO Changpeng Zhao made headlines by announcing the upcoming launch of the cryptocurrency exchange on a new Japanese platform in August 2023. This action marks Binance’s return to the nation and exemplifies Japan’s approach to the Web3 regulatory landscape, which is open and forward-thinking.
Japanese Prime Minister Fumio Kishida addresses at #webx
— WebX 2023 (July 25-26) (@WebX_Asia) July 25, 2023
“Web3 is part of the New Form of Capitalism” pic.twitter.com/Q3XFFQIRzb
The conference’s energy was electrifying as industry experts and amateurs came together to investigate the endless possibilities of Web3. The head of the EOS Foundation, Yves La Rose, applauded the prime minister’s upbeat remarks and emphasized Japan’s favorable view of the Web3 movement.
Related: Japan and Singapore to Launch Joint Crypto Pilot Project
Prime Minister Kishida continued by calling Web3 “the new form of capitalism” and praising its capacity to spur economic expansion and tackle urgent social challenges. Koichi Hagiuda, Chairman of the Policy Research Council of the Japan Liberal Democratic Party, emphasized Japan’s dedication to investor protection and the development of Web3 businesses while speaking about the nation’s stringent regulatory framework and the “Start Next Innovator” initiative designed to support regional Web3 startups.
Binance Debut in Japan
The forthcoming launch of Binance in Japan will strengthen its status as a pioneer in Web3 regulatory framework. Japan continues to lead the path for the expansion and success of the Web3 business because to the clear and supportive rules that have been in place since 2017.
なんと!Binanceのセッションでczからのサプライズビデオメッセージ😂👏🏻
— kinjo – @illshin.eth (@illshin) July 25, 2023
Thanks great message @cz_binance 🚀#WebXpic.twitter.com/P6lrcTCLAS
The recent change in law exempting token issuers from corporate taxes on unrealized cryptocurrency gains demonstrated the country’s progressive mindset and further demonstrated Japan’s dedication to fostering the Web3 ecosystem. The future of Web3 in Japan appears to be more promising than ever as the sector continues to develop.
Related: Binance kicks off transition to new platform in Japan