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Japan Approves Web3 White Paper to Promote Industry Growth in the Country

Japan's ruling Liberal Democratic Party's Web3 project team has released a white paper laying out recommendations for boosting the Crypto industry in the country, which is part of Prime Minister Fumio Kishida's strategy of promoting technology, a project called "Cool Japan." While other governments are looking to put regulations in place to protect consumers, Japan is trying to create a friendlier environment for Crypto after firms begin leaving for other jurisdictions because of heavy tax burdens. The Web3 project team has been bypassing the usual administrative process to formulate regulations.

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