Asia Web3 Alliance Japan Proposes U.S. Collaboration on Tokenization
The Asia Web3 Alliance Japan has submitted a proposal to the U.S. Securities and Exchange Commission’s Crypto Task Force. The aim is to create a strategic partnership on Web3 and tokenization.
The Asia Web3 Alliance japan has put forward a plan to the U.S.SEC Crypto Task Force. It seeks a joint effort on Web3 and tokenization rules. The proposal involves the SEC, japan’s Financial Services Agency, and other key agencies. The goal is to clarify regulations and improve market interoperability.
Key objectives include:
- Creating a unified token classification system.
- Offering a safe harbor for early-stage token projects.
- Setting standards for cross-border token activities.
This collaboration aims to distinguish between different types of tokens. It also suggests a safe harbor for startups. This would let new projects test in a controlled environment.The alliance wants to reduce legal and tax uncertainties. This would boost Web3 innovation.
The plan includes a U.S.-Japan Web3 regulatory roundtable. This would help share policy updates and research. The alliance sees regulatory uncertainty as a big hurdle for startups. Clear rules could help these firms grow. The alliance wants to make it easier for Web3 projects.
The proposal outlines several goals. It wants a shared token classification system.This would help tell the difference between various token types. It also suggests a safe harbor for early-stage projects. This would let startups test their ideas in a controlled setting. The alliance also recommends setting standards for cross-border token activities. This would make it easier for tokens to move between the two countries.
A U.S.-Japan Web3 regulatory roundtable is a key part of the plan. This would allow regulators, legal experts, and industry leaders to talk regularly. They could share policy updates and research findings. The alliance believes that regulatory uncertainty is a big problem for Web3 startups. Clear rules could help these firms grow.
The alliance suggests an initial meeting between SEC officials and japanese regulators. They should also choose pilot projects to test cross-border tokenization frameworks. This collaboration could led to better guidance on distinguishing digital tokens from customary securities.
