Japananese prime minister Fumio Kishida reaffirmed the country’s commitment to foster the Web3 industry, highlighting its potential to transform the internet and kindle social change.
Kishida made the comments in a keynote address on day one of the WebX conference in Tokyo, Japan as initially reported by local media outlet CoinPost. On the same day, Binance CEO Changpeng Zhao announced the cryptocurrency exchange would launch its services on a new Japanese platform in August 2023.
Japanese Prime Minister Fumio Kishida addresses at #webx
Kishida highlighted Web3’s potential to drive innovation across industries and highlighted the event’s role in bringing industry players to Japan to drive collaboration:
“I hope that the Web3 industry will regain its attention and vitality, and that various new projects will be born.”
EOS Foundation CEO Yves La Rose watched on from the crowd during Kishida’s address and tweeted that the prime minister’s words signal a welcoming attitude towards Web3 that is being fostered in Asia:
Here live at @WebX_Asia and @JPN_PMO Fumio Kishida just stated that Web3 is “the new form of capitalism”.
While the West continues to antagonize blockchain companies, Asia is welcoming us in with their arms wide open.
Kishida went on to describe the Web3 sector as “the new form of capitalism” and hailed its the movement’s potential to drive growth through the “resolution of social issues”.
The opening speech given by Koichi Hagiuda, Japan’s Liberal Democratic party’s Policy Research Council chairman, noted Japan’s efforts to establish a strict regulatory framework aimed at protecting investors that form the basis of further promotional Web3 policies.
Hagiuda also highlighted projects like the “Start Next Innovator” as key in driving the growth of Japanese-owned Web3 businesses. Japan’s Economy, Trade and Industry ministry project is sending 1,000 entrepreneurs and students to Silicon Valley over a five year campaign to foster Web3 startups.
Binance begins life in Japan
Binance verified reports with Cointelegraph that it is set to offer its services to Japanese cryptocurrency users from August onwards. The company acquired local exchange platform Sakura Exchange Bitcoin (SEBC) in November 2022.
As the exchange outlined at the announcement of the deal, the 100% acquisition of the Japanese-registered crypto exchange service provider paved the way for Binance’s reentry into the country.
June 2023 saw a flurry of headlines involving Japan and the Web3 sector. The national tax agency revised legislation which exempts token issuers in the country from paying corporate taxes on unrealized cryptocurrency gains.
Collect this article as an NFT to preserve this moment in history and show your support for independent journalism in the crypto space.
Canterbury MP Rosie Duffield has resigned from the Labour Party.
The 53-year-old MP is the first to jump ship since the general election and in her resignation letter criticised the prime minister for accepting thousands of pounds worth of gifts.
She told Sir Keir Starmer the reason for leaving now is “the programme of policies you seem determined to stick to”, despite their unpopularity with the electorate and MPs.
In her letter she accused the prime minister and his top team of “sleaze, nepotism and apparent avarice” which are “off the scale”.
“I’m so ashamed of what you and your inner circle have done to tarnish and humiliate our once proud party,” she said.
Since December 2019, the prime minister received £107,145 in gifts, benefits, and hospitality – a specific category in parliament’s register of MPs’ interests.
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Ms Duffield, who has previously clashed with the prime minister on gender issues, attacked the government for pursuing “cruel and unnecessary” policies as she resigned the Labour whip.
She criticised the decision to keep the two-child benefit cap and means-test the winter fuel payment, and accused the prime minister of “hypocrisy” over his acceptance of free gifts from donors.
“Since the change of government in July, the revelations of hypocrisy have been staggering and increasingly outrageous,” she said.
“I cannot put into words how angry I and my colleagues are at your total lack of understanding about how you have made us all appear.”
Ms Duffield also mentioned the recent “treatment of Diane Abbott”, who said she thought she had been barred from standing by Labour ahead of the general election, before Sir Keir said she would be allowed to defend her Hackney North and Stoke Newington seat for the party.
Her relationship with the Labour leadership has long been strained and her decision to quit the party comes after seven other Labour MPs were suspended for rebelling by voting for a motion calling for the two-child benefit cap to be abolished.
“Someone with far-above-average wealth choosing to keep the Conservatives’ two-child limit to benefit payments which entrenches children in poverty, while inexplicably accepting expensive personal gifts of designer suits and glasses costing more than most of those people can grasp – this is entirely undeserving of holding the title of Labour prime minister,” she said.
Ms Duffield said she will continue to represent her constituents as an independent MP, “guided by my core Labour values”.