Japanese Web3 Group Proposes Strengthening U.S.Japan Partnership on Tokenization and Regulation
In a letter sent to the U.S. Securities and Exchange Commissions (SEC) Crypto Task Force, the group emphasized the need for a joint effort in digital ownership and the tokenization of real-world assets (RWAs), particularly in light of Japans challenges in defining clear pathways for Web3 startups to issue tokenized assets.
Proposal Highlights U.S. as a Model for International Crypto Cooperation
The Japanese group acknowledged the progress the U.S. has made through its Crypto Task Force, particularly with identifying security categories and launching safe harbor discussions. The proposal suggested that these efforts could serve as a valuable model for international cooperation, helping to reduce legal complexities and create a clearer regulatory environment for tokenization and Web3 projects.
Focus on Regulatory Innovation and Cross-Border Tokenization
In addition to fostering regulatory collaboration, the Japanese group proposed measures to promote consistency in classifying tokenized securities, enhance regulatory interoperability, and enable smoother cross-border token trading and custody. These steps are seen as crucial for building a more unified global approach to Web3 regulation, especially as digital assets continue to gain traction internationally.
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Text source: Coindoo
