TechFlow news: On February 16, Japan's Ministry of Economy, Trade and Industry announced that the Japanese cabinet has approved a proposal to add cryptocurrencies to the list of assets that local investment limited partnerships can acquire or hold.
In a statement on Friday, the ministry said the approved revisions include amendments to the Act on Strengthening Industrial Competitiveness, aiming to expand strategic investments and support local startups and medium-sized enterprises. According to local news outlet CoinPost on Saturday, such revisions will allow venture capital firms to invest in projects that issue only cryptocurrencies.
The ministry stated in the announcement that following cabinet approval, the bill has been submitted to the legislature for deliberation.
