New Japan PM to boost crypto economy, ‘refine’ blockchain regulations

Japan’s newly elected prime minister, Sanae Takaichi, is expected to enhance cryptocurrency regulations to position the country as a global hub for crypto firms. Taking office on October 15, Takaichi’s leadership could lead to a more permissive regulatory stance towards blockchain innovation, potentially promoting technological sovereignty and digital infrastructure development. Experts suggest that her administration may refine existing token classifications and improve investor protections. Takaichi’s approach could also stimulate liquidity in the market, responding to voter concerns over a weakening yen. The Nikkei index saw a significant rise following her election news. Japan has been evolving its cryptocurrency regulations since the 2016 Mt. Gox collapse, establishing a framework to manage crypto exchanges and their compliance with financial regulations. Under Takaichi, further developments may consolidate supervisory tools for token issuance and trading, making Japan a more attractive destination for cryptocurrency firms and encouraging growth in the nation’s Web3 ecosystem.

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