Japanese congressmen Masaaki Taira and Hideto Kawasaki expressed their intention to create new policies for Web3 in Japan in an interview.
Japanese Lawmakers Try to Create New Web3 Policies
The country is exploring various methods to regulate Web3. In April 2023, the Liberal Democratic Party’s Web3 project team (web3PT) published a whitepaper promising to hold discussions aimed at developing various Web3 projects using blockchain technology.
web3PT also hosted the Decentralized Autonomous Organization (DAO) rulemaking Hackathon at the end of 2023. This event enabled stakeholders to voice their expectations from policy makers.
Kawasaki, who also serves as the executive director of web3PT, said, “Thanks to the hackathon, both short-term problems and medium and long-term problems became clear.
– Stating that regulations should be developed for DAOs, he said, “The next step is to clearly reflect this in the next white paper.”
There is a need for clarity regarding DAOs, specifically whether companies must implement a smart contract to be classified as a DAO. Taira, president of Web3PT, believes this will become clearer over time.
“We also want to grasp the current situation in areas outside DAOs and identify new landmarks for policy within web3PT,” he added.
*This is not investment advice.
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