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Japan’s Leadership Shakeup: Will Crypto and Web3 Policies Continue?
Japanese Prime Minister Shigeru Ishiba has announced his resignation, triggering uncertainty over the country’s economic and digital policy future, including its stance on cryptocurrency regulation and Web3 innovation.
Ishiba Steps Down Under Pressure
On September 7, Ishiba confirmed he would step down after completing US trade negotiations, citing weeks of internal party dissent. His resignation eliminates the need for an earlier leadership vote and opens the way for the ruling party to select his successor. Ishiba emphasized that he would not stand as a candidate.
The decision comes after the ruling party’s heavy defeat in July’s upper house elections and the simultaneous resignation of four senior party executives on September 2, leaving him politically isolated.
Implications for Crypto and Web3
Ishiba’s exit casts doubt on Japan’s digital policy momentum. Just weeks earlier, he highlighted the role of blockchain, AI, and Web3 startups in addressing Japan’s economic and social challenges, signaling strong support for regulatory reforms and investment.
Now, frontrunners for the leadership race include Sanae Takaichi and Shinjiro Koizumi, both with contrasting approaches. Takaichi has backed stricter oversight, including frameworks for earlier account freezes in suspicious crypto transactions. Koizumi, meanwhile, has voiced openness toward digitalization and has made remarks interpreted as supportive of cryptocurrencies and stablecoins.
Industry advocates warn that the fate of crypto tax reforms and broader regulatory easing may hinge on the new leadership, particularly with Digital Minister Masaaki Taira previously pushing for friendlier policies.
Market Reaction and Crypto Stocks
Financial markets moved swiftly after Ishiba’s announcement. The yen weakened to $0.0067 (148.48 yen) per dollar, while crypto-linked stocks showed early signs of investor optimism. Metaplanet gained 0.42% to ¥716, Remixpoint rose 1.37% to ¥317, Ikuyo inched up 0.17% to ¥1,152, and Livwork advanced 1.93% to ¥793.
The ruling party’s leadership contest will determine whether Japan shifts toward tighter crypto oversight or continues Ishiba’s balanced approach of fostering innovation while aligning with global standards.
