The Ministry of Economy, Trade and Industry of Japan opens its own Web3 Policy Office in the Minister’s Secretariat. The new entity commits to bringing together the departments responsible for industrial finance, taxation, corporate system and those that deal with media and content, sports, fashion and the other entertainment industries.
The announcement specifies the mission of the new office would be to strengthen the framework for examining business environment issues related to Web3. According to the release, developing the business environment for Web3 will also include formulating policies. Hence, the “Web3 Policy Office” could become something more than just a consultancy body.
The University of Tokyo, also known as Todai, announced its first range of study programs that will take place in the Metaverse. The courses will be offered to students ranging from high school to adult learners in the workforce.
Despite these vivid developments in Web3, Japanese regulators voice their anxiety on the matter of general crypto regulation. Speaking with journalists on July 18, an unnamed source close to both industry and government said that the current model of crypto regulation is faltering.
