Japan's government passed a bill allowing venture capital firms and investment funds to own Crypto. If approved by parliament, the bill could boost cryptocurrency adoption and innovation in the Asian country, which already has one of the most advanced and Crypto-friendly regulations.
The bill amends the Law on Financial and Exchange Instruments, which currently prohibits venture capital firms and investment funds from holding assets other than securities, such as cryptocurrencies.
The goal of the bill is to make it easier for venture capital companies and investment funds to invest in startups and projects related to Crypto, which often use cryptocurrencies as a means of financing or payment.
The bill also establishes registration and supervision requirements for venture capital firms and investment funds holding Crypto, as well as measures to protect investors and prevent money laundering.
