On February 16, the Japanese cabinet approved a proposal to include cryptocurrencies in the list of assets that local investment limited partnerships can acquire or hold.
This was announced by the Ministry of Economy, Trade and Industry. The proposed revision, which includes changes to the Act on Strengthening Industrial Competitiveness, aims to expand strategic investments to support local startups and medium-sized companies.
According to local news outlet Coinpost, this revision would allow venture capital firms to invest in projects that exclusively issue cryptocurrencies.
The bill will now be deliberated upon after being submitted to the legislative body following the cabinet’s approval, as stated in the ministry’s Friday announcement.
