Japanese lawmakers plan to formulate new policies for the Web3 sector
According to ChainCatcher news and reported by CoinDesk, Japanese lawmakers are planning to formulate new policies for Web3. Masaaki Taira and Hideto Kawasaki stated in an interview with CoinDesk Japan that they hope to establish policies in the Web3 field, as the country is currently exploring different regulatory approaches. The Liberal Democratic Party's Web3 Project Team (web3PT) released a white paper in April 2023, promising to discuss the development of various Web3 projects utilizing blockchain technology.
It is reported that they hosted a decentralized autonomous organization (DAO) rule-making hackathon at the end of 2023 to allow stakeholders to express their needs to policymakers. Kawasaki, the executive director of web3PT, stated that the hackathon clarified short-term and medium-to-long-term issues. Their next goal is to clearly reflect these issues in the next white paper and establish relevant regulations for the DAO.
In addition, web3PT also facilitated the passage of tax reforms on third-party ownership by the Liberal Democratic Party's Tax System Research Committee. Kawasaki hopes to ensure that these reforms are implemented.