The Japanese Ministry of Economy, Trade and Industry announced that the Japanese Cabinet has approved a proposal to add cryptocurrencies to the list of assets that local investment limited partnership companies can obtain or hold. According to a revised bill released by the ministry last Friday, "the revision of the Industrial Competitiveness Enhancement Act will expand support for strategic investments in small and startup companies." According to local news media Coinpost's report on Saturday, this revision will allow venture capital firms to invest in projects that only issue cryptocurrencies. The ministry stated in a statement that after the Cabinet's approval, the bill has been submitted to the legislative body and will be deliberated. It is reported that Japanese limited partnership companies are usually used to invest in unlisted companies, which has become a common measure for venture capital firms to invest in startups. <br>

Takeaways from a recent conversation hosted by Variant

Need to know what happened in crypto today? Here is the latest news on daily trends and events impacting Bitcoin price, blockchain, DeFi, NFTs, Web3 and crypto regulation.

According to analytics firm Santiment, the Internet Computer (ICP) has surpassed all other cryptocurrency projects in terms of recent development activity, registering 466.9 GitHub commits in the past 30 days. Santiment uses an "advanced methodology" to collect data for "true" GitHub commits only, excluding routine updates. Internet Computer aims to add a serverless cloud functionality to the public internet, and its native asset, ICP, is currently trading at $13.45. Santiment has previously stated that heavy development activity is a positive indication of a project's potential success.

A first approach to sufficient anonimity using ERC20, ERC721, ERC1155 and POAP tokens

Creating safe and engaging consumer experiences in web3 is hard. And it's not just because of 'UX problems'. Developers have to navigate through the motivations of users, the utility users want and their revealed preferences — when data is open and on-chain, yet very noisy.

Web3 game publisher Carry1st announced the completion of a strategic round of financing, with Sony Innovation Fund participating, and the specific amount has not been disclosed. Carry1st stated that the new funds will be used to expand its game business market by leveraging Sony's expertise and resources in gaming and entertainment, and will currently focus on the African market.

Web3 no-code dApp ecological protocol Forward Protocol announced the completion of a $1.25 million financing, including a $500,000 seed round financing and a $700,000 private placement financing. Participating investors include CVVC, AU21, X21, GDA Capital, Polygon, Bitcoin.com, Utopian Capital, Marathon Capital, Cuan Ventures, Ardura Capital, MEXC, Stakez Capital, Magnus Capital, MarketAcross, Basics Capital, CRT Capital, Polygon Studios, Master Ventures, BlackDragon, Tokenova, Lotus Capital, NFT Technologies, Darkpool Capital, Octopus Capital, ZBS Capital, IBC Group, Polygon Syndicate and Oracles Investment Group. Forward Protocol aims to promote the large-scale adoption of blockchain technology by creating a no-code open source Web 3.0 toolkit.

ABCDE Highlight, a prominent Web3.0 incubator and accelerator headquartered in Singapore, and Hailstone Labs, a premier Web3.0 venture studio based in Hong Kong, have officially formalized a Memorandum of Understanding (MOU) to establish a strategic partnership. With a shared vision of accelerating the transition from Web2.0 to Web3.0, this strategic partnership is committed to driving innovation and setting industry standards that promote a more inclusive and decentralized internet from Asia to beyond.

As India's Finance Minister prepares to announce the budget provisions for the fiscal year 2025, the web3 community in India is calling for changes to cryptocurrency tax regulations. The community is using the hashtag '#ReduceCryptoTax' on social media to express their demands, which include more flexible tax slabs, a reduction in the Tax Deducted at Source (TDS) from 1% to 0.01% on each crypto transaction, and the ability to carry forward losses. The crypto sector argues that current tax laws hinder crypto growth in India and lead to a talent exodus to more crypto-friendly nations. The community is also advocating for clear legal frameworks, tax regularization, and policies fostering innovation and research in the digital asset space.