According to Fumio Kishida, the government of Japan's investment in digital transformation enclosed supplying NFTs to native authorities using digital solutions.
Fumio Kishida, the prime minister of Japan since 2021, has said the government are creating efforts to push Web3 services, including those dealing with nonfungible tokens, or NFTs, and the Metaverse.
In an Oct. 3 speech before Japan’s National Diet, Kishida said the government’s investment in the country’s digital transformation already enclosed issuing NFTs to native authorities exploitation digital technology to unravel challenges in their several jurisdictions. He conjointly hinted at digitizing national identity cards. in addition, the prime minister in addition the cupboard would “promote efforts to expand the use of net 3.0 services that utilize the metaverse and NFTs.”
Kishida said Japan’s technological investments would be developing and producing semiconductors as a part of a joint effort with the us and work on reform laws associated with the technology sector. the present prime minister, who took office in October 2021, followed former Prime Minister Yoshihide Suga, who suggested he was in favor of burdensome Bitcoin (BTC) transactions in Japan.
During Kishida’s time in workplace, crypto users in Japan have seen a number of developments within the house, from Mt. Gox moving forward on reimbursement procedures when years of legal delays to the intro of crypto ATMs within the country. In August, 2 of the country’s crypto support teams, the Japan Crypto-Asset Business Association and the Japan Crypto-Asset Exchange Association, called for a 20% separate tax on crypto earnings for individual investors — several presently face a crypto rate of up to 55%.
( Turner Wright, Cointelegraph, 2022 )