PANews reported on November 29 that according to Cryptonews, Japan's new digital minister, Masaaki Taira, announced at a forum on November 27 that the country's Prime Minister Shigeru Ishiba has reorganized his party's web3 and encryption policy-making department. Taira explained that the ruling Liberal Democratic Party will dissolve the existing Web3 Project Team (PT) and will establish a special department in the party's digital society promotion department. Akihisa Shiozaki, former secretary-general of the Web3 Project Team, will lead the new unit.
The government has said it has no intention of preventing the “promotion” of Web3-related businesses. The project group is the brainchild of former Prime Minister Fumio Kishida, who resigned as prime minister and LDP leader earlier this year. Kishida saw Web3 and cryptocurrencies as potential growth engines for the Japanese economy and promoted the adoption of blockchain technology and NFTs. Shigeru Ishiba has said he also supports policies that support Web3, while Masaaki Taira, who also served as head of the Web3 project group, has spoken about the need to reform Japan's cryptocurrency tax laws. Since the reorganization, Shiozaki's X account profile has been updated, but it is noted that the relevant content of "Web3 policy" has not been deleted. The government has not yet clarified the full responsibilities of the digital society promotion department.
