HomeCoinsBitcoin (BTC)NFT Taskforce Asks Japanese Government to Consider Appointing Web3 Minister – Metaverse...

NFT Taskforce Asks Japanese Government to Consider Appointing Web3 Minister – Metaverse Bitcoin News

- Advertisement -


In a recently released white paper, a Japanese non-fungible token (NFT) taskforce has asked the government to consider appointing a government minister whose job it would be to oversee all matters relating to Web3.

Building the Support Structure for Japan’s NFT Sector

A Japanese NFT policy task force has reportedly told the country’s leaders to consider appointing Web3 minister, a report has said. If hired, this individual would be in charge of all matters relating to Web3.

Also, as per a report published by Coinpost, the government-appointed task force said it wants Japan to play a leading role in the web3 era. Consequently, in a white paper that was approved by a subcommittee on March 30, the task force urges Japanese authorities to develop the infrastructure and the regulatory framework that would support the country’s NFT sector.

In addition to recommending the creation of “a cross-ministerial consultation desk,” the taskforce’s white paper, which was prepared by a team from Japan’s ruling party, also touches on the issue of returning profits garnered from the secondary sale of NFTs.

Prioritizing Consumer Safety

Concerning the growing challenge of unlicensed NFT sales or issuance, the white paper reportedly said the Japanese government should prioritize consumer safety. In terms of the metaverse, the white paper reportedly implores the Japanese government to take the lead in helping businesses establish what would be the industry-wide standard.

Meanwhile, the report suggests that while NFTs and Web3 projects are seemingly taking off in some jurisdictions, Japan’s excessive regulations and taxation policies could be the reason why the country is lagging behind. According to the report, some in the task force are convinced that the country’s regulatory situation is the reason why promising Web3 startups are leaving Japan.

Do you agree with the Japan NFT taskforce’s recommendations? Tell us what you think in the comments section below.

NFT Taskforce Asks Japanese Government to Consider Appointing Web3 Minister – Metaverse Bitcoin News
Terence Zimwara

Terence Zimwara is a Zimbabwe award-winning journalist, author and writer. He has written extensively about the economic troubles of some African countries as well as how digital currencies can provide Africans with an escape route.














Image Credits: Shutterstock, Pixabay, Wiki Commons

Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.



First published here

- Advertisement -
Mr Bitcointe
Mr Bitcointehttps://www.bitcointe.com/
“Fact You Need To Know About Cryptocurrency - The first Bitcoin purchase was for pizza.” ― Mohsin Jameel
462FansLike
76FollowersFollow
4,567FollowersFollow
5,261FollowersFollow
1,580FollowersFollow
2,230SubscribersSubscribe

Most Popular

bitcoin
Bitcoin (BTC) $ 23,095.19
ethereum
Ethereum (ETH) $ 1,676.37
tether
Tether (USDT) $ 1.00
bitcoin-cash
Bitcoin Cash (BCH) $ 135.18
litecoin
Litecoin (LTC) $ 58.83
eos
EOS (EOS) $ 1.17
okb
OKB (OKB) $ 18.07
tezos
Tezos (XTZ) $ 1.79
leo-token
LEO Token (LEO) $ 4.75
cardano
Cardano (ADA) $ 0.507335
monero
Monero (XMR) $ 156.67
stellar
Stellar (XLM) $ 0.121936
chainlink
Chainlink (LINK) $ 8.59
huobi-token
Huobi (HT) $ 4.34
tron
TRON (TRX) $ 0.068785
usd-coin
USD Coin (USDC) $ 1.00
dash
Dash (DASH) $ 53.04
neo
NEO (NEO) $ 11.01
iota
IOTA (MIOTA) $ 0.327
nem
NEM (XEM) $ 0.049659
zcash
Zcash (ZEC) $ 76.58
maker
Maker (MKR) $ 1,072.39
paxos-standard
Pax Dollar (USDP) $ 1.00
ethereum-classic
Ethereum Classic (ETC) $ 36.41
vechain
VeChain (VET) $ 0.030178
true-usd
TrueUSD (TUSD) $ 1.00
ftx-token
FTX (FTT) $ 29.75
kucoin-shares
KuCoin (KCS) $ 10.53
waves
Waves (WAVES) $ 5.83