Japan Allows Startups To Raise Funds Via Crypto

09/15/2023

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Japanese authorities have decided to ease regulations on startups, allowing them to raise funds through issuing cryptocurrency instead of stocks.

Local media Nikkei shared that the updated system applies to LPS investment businesses. Japan continues to catch up with the rest of the world when it comes to cryptocurrency adoption.

On August 31, the local financial regulator FSA decided to make changes to the tax code. And Japanese Prime Minister Fumio Kishida announced the country's willingness to develop in the Web3 sector.

In addition, Binance has returned to the Japanese market after two years, as it was forced to leave it due to disagreements with local regulators. Last year's purchase of Sakura Exchange Bitcoin (SEBC) reopened Binance's doors to the Japanese market.

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