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Japan inched closer to allowing venture capital firms and other investment funds to hold digital assets directly, after Prime Minister Fumio Kishida’s administration agreed to submit a revised bill to implement the change.
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Should the amendment be approved, the move would open up Japan’s investment sector to greater exposure in digital assets. Investments in web3 startups typically include clauses that allocate tokens to backers, with cryptocurrencies acting as a way to exit bets earlier than provided by traditional routes such as a stock market listing.
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