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Top metaverse news: Japan's Ministry of Economy establishes a Web3 policy office

26-Jul-2022 By: Simran Mishra
Top metaverse news:

The Japanese Ministry of Economy, Trade, and Industry (METI) create its own Web3 Policy Office in the Minister's Secretariat, marking a key milestone for the buzzword. 

The new entity promises to bring together the departments in charge of industrial finance, taxation, the corporate system, and media and content, sports, fashion, and other entertainment businesses.
According to the July 15 announcement, the new office's aim would be to enhance the framework for investigating business environment concerns relating to Web3.
As per the announcement, establishing the Web3 business environment would also entail policy formulation. As a result, the "Web3 Policy Office" might evolve into more than merely a consultancy body.
Japan and Metaverse
As CoinGabbar earlier reported, the University of Tokyo, often known as Todai, unveiled its first set of academic courses in the Metaverse. The courses will be available to students ranging from high school to adult workers.
Other prominent Metaverse implementations in Japan in recent months include 29 NSG College League trade schools in Niigata hosting their 2022 commencement ceremony in the Metaverse.
Despite these exciting advancements in Web3, Japanese regulators are concerned about universal crypto regulation. On July 18, an unidentified person connected to both the business and the government told media outlets that the present paradigm of crypto regulation is unsustainable.
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