Japan Ministry of Economy launches Web3 policy office

Japan Ministry of Economy launches Web3 policy office

In an important landmark for the buzzword, The Ministry of Economy, Trade and Industry (METI) of Japan opens its own Web3 Policy Office in the Minister’s Secretariat. The new entity commits to bringing together the departments responsible for industrial finance, taxation, corporate system and those that deal with media and content, sports, fashion and the other entertainment industries. 

The July 15 announcement specifies the mission of the new office would be to strengthen the framework for examining business environment issues related to Web3:

“Given that some entrepreneurs pursuing Web3-related business are leaving Japan for opportunities overseas, deliberations toward developing the business environment in Japan need to be accelerated.”

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According to the release, developing the business environment for Web3 will also include formulating policies. Hence, the “Web3 Policy Office” could become

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