The Japanese government will allocate funding to promote Web3 services, including those related to metaverses and NFTs. This follows Prime Minister Fumio Kishida’s address to the National Diet.
The official said that, as part of the digital transformation, the government will issue NFTs for local authorities that apply new technologies to address problems in their areas.
In cooperation with the United States, development and production of semiconductors are planned, along with work on reforming regulatory acts related to the tech sector.
Kishida also floated the digitisation of national identity cards.
In August, ForkLog reported that authorities were considering lowering the capital gains tax on retail investors from 55% to 20%.
In June, Japan’s Diet passed a bill that designated stablecoins as digital currencies.
Previously, the FSA promised to draft rules for stablecoin issuers.
Earlier, the authorities in Japan issued NFTs to reward officials.
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