The Japanese blockchain gaming community has reached out to the Liberal Democratic Party (LDP) for assistance in enhancing liquidity within Japan’s cryptocurrency market.
Ryo Matsubara, representing various Japanese blockchain gaming projects, visited the LDP’s digital society promotion headquarters on February 21 to address the current situation.
While acknowledging the positive impact of recently enacted taxation laws and the LPS Act on startup operations, Matsubara expressed worries about stringent regulations that have led to a decrease in liquidity in Japan, adversely affecting the expansion of the GameFi ecosystem.
Regulations encouraging safe investment in cryptocurrencies and the blockchain industry can lead to a rapid increase in liquidity by attracting more participants.
Oasys intends to maintain its partnership with the government to support the competitiveness of Japan’s Web3 market on a global scale. Matsubara is optimistic about Japan’s ability to revive its renowned gaming legacy within the Web3 space: “If Japan recovers its liquidity, it will be the hottest market as we have a lot of attractive content.”
While Japan was initially highly skeptical about crypto adoption, it has recently eased its stance toward the technology.
Also Read: Japan Expands VC Access to Crypto and Web3 Startups
