The Japanese government will allow startups to raise capital selling crypto as opposed to shares in a company. This is according to a report posted on Nikkei today.
Explaining that Japan is falling behind the rest of the world in the utilization of digital assets, startups will now be able to legally hand over crypto instead of shares when a venture investment takes place. The report (paid) says the new rules will utilize the Investment Business Limited Partnership (LPS). The initial description appears to be very similar to the initial coin offerings (ICOs) of the not-so-distant past.
It is interesting to see the Japanese explanation that the country sees itself as falling behind the rest of the world when the United States has been unwilling to create rules that would cater to digital assets that may not be deemed a security.
