ChainCatcher news, the Japanese Cabinet has approved a proposal to reform laws related to cryptocurrency brokerage and stablecoins. According to the announcement from the Financial Services Agency (FSA) of Japan, the government has approved a Cabinet resolution to amend the Payment Services Act.The bill will allow cryptocurrency companies to operate as "intermediary businesses." This means that brokers will no longer need to apply for the same type of licenses as cryptocurrency trading platforms and cryptocurrency wallet operators. The bill also provides more flexibility for stablecoin issuers regarding the types of assets that back their tokens.In the history of the Japanese Diet, no changes to cryptocurrency-related laws have ever been rejected after receiving Cabinet approval. Similarly, the Cabinet has never rejected any legal change proposals put forward by the FSA concerning Japan's cryptocurrency regulatory matters. The FSA has a certain degree of "full authority" in Japan's cryptocurrency regulatory affairs.Previous news, the Japanese Cabinet approved a new proposal to allow VC companies to directly invest in cryptocurrency and Web3 companies.

ChainCatcher news, according to Coinpost, Japan's Minister of Economy, Trade and Industry, Ken Saito, attended the Web3 conference "WebX 2024" and delivered a speech.Ken Saito pointed out that the world has reached a historic turning point, entering an era of international competition in industrial policy, and therefore hopes to seize opportunities for economic growth. He proposed a vision for Japan to become a "global creative center" and formulated a strategy to leverage Japan's advantages and fully utilize the DX and GX fields to earn income from the world.He also emphasized the importance of Web3 technology and mentioned the implementation of tax and legal reforms to support startups, as well as supporting the creation of future use cases. Ken Saito praised the immense potential of Japan's Web3 and blockchain sectors and expressed his intention to create an environment that attracts entrepreneurs and developers from around the world. He concluded by expressing hope that this conference would lead to thorough innovation.