CandleFocus Japan doubts PM Kishida’s economic and crypto ‘friendliness’ as trading revives in 2024
2024-09-18
Author: Content Editor
Prime Minister Fumio Kishida of Japan received worse ratings compared to his predecessor Shinzo Abe in a survey conducted by Teikoku Databank. The survey asked 1,924 companies to rate the Kishida administration's economic policy, with an average score of 49.3. In contrast, Abe's previous survey received an average score of 59.4. The ratings revealed concerns among Japanese businesses and crypto traders about the government and its crypto-friendliness. While Kishida praised web3 development and cryptocurrency trading on Japan's centralized exchanges saw a revival, doubts remain due to high crypto gains punishment and the potential for more stringent policies under new leadership. There are concerns about Prime Minister hopeful Taro Kono's proposed conservative reform, which may disproportionately benefit large corporations. These concerns are not widely acknowledged due to positive developments such as Ripple's CEO's praise of Japan's commitment to advancing crypto and the nation's notable blockchain projects. However, these developments do not align with Satoshi Nakamoto's original vision for Bitcoin. Overall, despite some positive aspects, Japan's crypto-friendliness remains uncertain.
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