The Japanese government is actively promoting Web3.0 and accelerating the development of the cryptocurrency market. According to news from December 29th last year, the regulatory body responsible for managing cryptocurrency exchanges notified member companies that they can now list tokens without undergoing long-term pre-screening, as long as they are not new tokens entering the Japanese market. This new rule was put into immediate effect. Despite the impact of the FTX collapse on the digital industry and other sectors, Japan is easing its complicated cryptocurrency regulations. As part of its economic policy, the Japanese government aims to promote the development of the Web3 market and may change corporate tax next year to support crypto entrepreneurs.
According to information from October, Japan's regulatory authorities are planning to simplify the screening process for cryptocurrency exchange listings, and the rules are expected to take effect in December. The plan to simplify the listing screening process for cryptocurrency exchanges by Japan's regulatory authorities was expected to be delayed until 2023, but it is believed that the plan will be finalized by the end of 2022. As Web3.0 business becomes more active globally, the Japanese government is focusing on improving the business environment by relaxing current regulations and making Web3.0 a pillar of its growth strategy. On the other hand, the emergence of new business models such as NFTs, metaverse, blockchain, DAO, and GameFi, as well as technological developments, requires companies to expand their business areas by integrating digital and real-world aspects. In fact, major companies are actively investing in Web3.0 businesses, and many industries such as telecommunications, banking, and finance are advancing token issuance, wallet development, establishment of exchanges, and introduction of blockchain and digital technology integration through collaboration. Japan is also working on developing social infrastructure. In addition, Web3.0 projects by startup companies are increasing rapidly, and Web3.0 business models that incorporate everyday relevance, such as brand certification certificates and NFT concert tickets with video restrictions, are being created every day.
Considering that new regulations will be fully implemented at the end of 2022, it is expected that the development of Web3.0 technology and ideas in Japan will accelerate in the new era of 2023, aiming to revitalize Japanese society and increase Japan's international financial influence through Web3.0. Although 2023 is still far off, movements in various countries are already active, and it is easy to imagine that the overall market environment in 2023 will undoubtedly be positive for the cryptocurrency market.
Unl-C exchange was established in Singapore in 2018 and is one of the world's leading digital asset platforms, having been granted dual MSB licenses (compliance operation licenses) from the United States and Canada.