Nikolas Sargeant
Japanese Prime Minister Shigeru Ishiba has implemented significant changes to the ruling party's web3 and cryptocurrency policy-making infrastructure. Digital Minister Masaaki Taira announced key modifications during a forum on November 27, marking a strategic shift in the government's approach to digital technologies.
Leadership Transition in Digital Policy
The Liberal Democratic Party (LDP) will dissolve the existing web3 Project Team (PT) and establish a new dedicated unit within the party's Digital Society Promotion department. Akihisa Shiozaki, the former Secretary-General of the web3 PT, will lead this new organizational unit.
Continued Commitment to Web3 Innovation
Despite leadership changes, the government has explicitly stated its intention to continue promoting web3-related business opportunities. This move follows the vision of former Prime Minister Fumio Kishida, who previously positioned web3 and cryptocurrency as potential economic growth engines.
Tax Reform and Institutional Support
Taira, who previously pioneered crypto regulations, has consistently advocated for reforming Japan's cryptocurrency tax laws. Shiozaki's leadership has been characterized by efforts to:
- Publish white papers calling for immediate tax reform
- Promote Japanese Decentralized Autonomous Organizations (DAOs)
- Foster institutional support for digital technologies
Ishiba's election manifesto includes innovative proposals for blockchain and NFT implementation in local development projects. The plan aims to:
- Utilize blockchain technology to enhance the value of local products
- Leverage NFTs to promote tourism experiences
- Restore local product values to global market standards
Political Context
The Liberal Democratic Party, which has dominated Japanese politics since 1955 with brief interruptions, retained parliamentary control in the October 27 general election. This continuity suggests a stable environment for implementing digital policy reforms.
