Japanese Lawmakers Want To Carve Out New Web3 Policies: CoinDesk Japan
Japanese congressmen Masaaki Taira and Hideto Kawasaki are seeking to establish policies for Web3 in Japan. The Liberal Democrat Party's Web3 project team (web3PT) released a whitepaper in April 2023, aiming to develop various Web3 projects using blockchain technology. The team also organized a decentralized autonomous organization (DAO) rulemaking hackathon in 2023 to identify issues and gather stakeholder input. A key concern is the need for clarity around DAOs and the use of smart contracts. The web3PT plans to address these issues in their next whitepaper and develop regulations for DAOs. Additionally, the web3PT has facilitated tax reform for third-party ownership, which was approved in December 2023. Kawasaki is now focused on ensuring the implementation of this reform.
