Japan's new prime minister reorganizes Web3 and cryptocurrency policymaking departments

On November 29th, Japanese Prime Minister Shigeru Ishiba restructured the ruling party's Web3 and cryptocurrency policymaking department. According to Digital Minister Hirakami, who announced at the forum on November 27th, the Liberal Democratic Party will dissolve the existing Web3 project group (PT) and instead establish a special unit in the party's digital society promotion department, led by former Web3 PT secretary general Akahisa Shiozaki.
The government said it will continue to promote the development of Web3-related businesses. The new digital minister, Hei Jung-myung, who previously served as the head of Web3 PT, advocates for reforming Japan's cryptocurrency tax regulations. According to Shigeru Ishiba's election platform, the government plans to use blockchain technology and NFTs to promote local development projects to raise the value of local products such as food and tourism experiences to a global level.