The Japanese cabinet has approved a proposal to add cryptocurrencies to the list of assets that local investment limited partnerships can acquire or hold, the Ministry of Economy, Trade and Industry announced on Feb. 16.

The ministry said in a Friday announcement that the approved revision, which contains amendments to the Act on Strengthening Industrial Competitiveness, would expand strategic investment to provide support for local startups and medium-sized companies. Such revision would allow venture capital firms to invest in projects that only issue cryptocurrencies, local news outlet Coinpost reported on Saturday.

Following the cabinet approval, the bill has been submitted to the legislative body and will be deliberated upon, the ministry said in the statement.

Limited …