Japanese congressmen Masaaki Taira and Hideto Kawasaki have expressed their intention to formulate policies for web3 in the Land of the Rising Sun.
What’s the context of this development?
In April 2023, Liberal Democrat Party released a web3 whitepaper and at the end of 2023 Japan hosted a DAO rulemaking hackathon.
What’s the aim of the proposed web3 policies?
The congressmen aim to address the regulation of Web3 technologies in Japan.
What are the focus areas of the proposed web3 policies?
The policies would cover the classification of smart contracts as DAOs and tax reform initiatives related to third-party ownership of crypto assets.
Gambateh to Masaaki Taira and Hideto Kawasaki in heralding the coming to the fore of web3 in Japan.