The ruling Japanese political party’s working group on NFT has recommended that the government appoint a “Web 3.0 minister.”
Earlier this year, the ruling Liberal Democratic Party (LDP), which has led Japan since 1955, established a task force on NFT policy. The group is chaired by LDP MP Masaaki Taira, and was created by former Digital Transformation Minister Takuya Hirai.
According to Japan’s CoinPost and a tweet by LDP MP Akihisa Shiozaki, the group of party members released a white paper explaining that Japan should “stimulate innovation in the Web 3.0 era” and require the government to allocate the domestic NFT sector as the new growth engine.
The document cites the need to appoint a minister with responsibility for Web 3-technology issues. The government also wants to create a similar “interagency advisory bureau.”
In addition, the group called on the government to establish a set of rules to control secondary sales in the NFT market.