Prime Minister of Japan Fuimo Kishida delivered a State of the Union address today. The Prime Minister expressed his thoughts on the general situation of the country and the world. During his talk, Kishida talked about digital technologies and blockchain He also talked about the investments they plan to make in the field.
Fuimo Kishida explained that they should seize the opportunities arising from the depreciation of the Japanese yen, metaverse and NFT stated his investment ideas about the field:
“We will invest in blockchain technologies that are still in their infancy. Our country’s Metaverse, NFT and Web3 investments will be pioneers all over the world. A new digital transformation process awaits Japan.”
Kishida added that his ministers are actively working in these areas. Then, he announced that work is being done to digitize ID cards in the country using blockchain technology.
Crypto Taxes Drop in Japan!
The former Japanese government was not very welcoming to the crypto industry. High taxes on cryptocurrencies and the world’s largest crypto exchange Binancewithdrew from Japan in 2018.
Kishida, who has not been in his job for a year yet, has completely changed the country’s digital asset policy. Recently, it has come to the fore that Binance wants to re-enter the Japanese market. In addition, the cryptocurrency tax rate, which can rise to 55% in the current situation, is expected to be fixed at 20% in the coming months.
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