Japanese Congressmen Aim to Develop Web3 Policies, Including DAO Regulations

Japanese lawmakers Masaaki Taira and Hideto Kawasaki plan to develop policies for Web3 in Japan, according to an interview with CoinDesk Japan. The Liberal Democrat Party's Web3 project team released a whitepaper in April 2023 and hosted a DAO rulemaking hackathon to gather stakeholder input. One area of concern is the need for clarity around DAO regulations, which Taira believes will become clearer over time. The team also successfully pushed for tax reform for third-party ownership of crypto assets.