Japan to Dissolve ‘Web3 Project’ Team, Form New Crypto Unit
Author: Content Editor
The Web3 Project Team (Web3PT) in Japan will be dissolved, and a new position dedicated to crypto-related matters will be established within the Liberal Democratic Party’s Digital Society Promotion Headquarters. Congressman Akihisa Shiozaki will assume this new role after serving as an executive director of Web3PT. Despite the dissolution of Web3PT, the government remains committed to promoting Web3. The details of the newly formed Web3 staff are expected to be released soon. Web3PT has played a significant role in shaping cryptocurrency regulations in Japan and has influenced the country's regulatory landscape. The Ministry is also actively promoting Decentralized Autonomous Organizations (DAOs), and Prime Minister Ishiba has included blockchain and NFTs in his policy agenda.