News - Japanese prime minister on Web3: "new form of capitalism".

By Ted Maas

Japanese prime minister on Web3: "new form of capitalism".

Crypto acceptance
Web 3.0

At the blockchain conference WebX in Japan, acting Prime Minister Fumio Kishida clearly expressed his support for the Web3 sector.

WebX, one of Asia's leading cryptoconferences, is taking place in Tokyo. Japanese Prime Minister Fumio Kishida's speech in particular stood out. In it, he emphasized that he has high hopes for the Web3 sector. Instead of reticence and critical words, as you currently hear from other jurisdictions toward the Web3 sector, Kishida clearly indicated that he is pro-crypto. He therefore hopes that Web3 will receive more attention and that many new projects will emerge. For him, Web3 belongs to a new form of capitalism. A strong signal. He gives the industry a high status.

Although Japan is a relatively isolated country economically, support for the crypto sector is of great importance. First, because Japan is the third largest economy in the world, and second, because it can stimulate regulatory competition. If Japan can attract more companies from the sector through crypto-friendly regulations, it increases pressure on other regions to also open up more to the crypto economy.

In this context, it is notable that Binance wants to go to Japan. While elsewhere in the world close their doors to the crypto exchange, Binance expands in Japan. Binance CEO Changpeng Zhao praised Japan as a crypto location during the WebX conference.

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