Cointime

Cointime

Download App
iOS & Android
Home / Policy

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.

Japan Web3
Comments

All Comments

Recommended for you

  • Trump announces he will accept cryptocurrency donations for his presidential campaign

    Donald Trump announced that he is accepting cryptocurrency as a form of donation for his presidential campaign.

  • U.S. House of Representatives passes resolution to overturn SEC cryptocurrency accounting standards announcement

    The US House of Representatives passed a resolution overturning the SEC's announcement on cryptocurrency accounting standards, with a vote of 228-182, showing clear partisan divisions. The announcement requires banks to record customer cryptocurrency assets as liabilities, causing industry controversy and concerns that it may hinder services. Republicans support the resolution, but the White House has stated that the President will veto the move, fearing it may cause financial instability. Democrats accuse the move of potentially weakening the SEC's authority. The resolution will now go to the Senate for review, facing more partisan controversy.

  • Rwanda’s central bank continues to advance retail CBDC project

    The National Bank of Rwanda (BNR) has opened its just-completed feasibility study on retail central bank digital currency (CBDC) to solicit public opinion. BNR is considering launching a national digital currency that combines technological innovation and is suitable for local conditions.

  • Hong Kong Securities and Futures Commission: The public should beware of Quantum AI’s suspected fraudulent activities related to virtual assets

    Hong Kong Securities and Futures Commission warned the public to beware of Quantum AI's alleged involvement in virtual asset-related fraud. It is reported that Quantum AI claims to use its related artificial intelligence technology to provide cryptocurrency trading services. The Securities and Futures Commission suspects that Quantum AI used deepfake videos and photos made by artificial intelligence, impersonating Mr. Elon Musk, on its website and social media to deceive the public into thinking that Mr. Musk is the developer of Quantum AI's related technology. The Hong Kong Police Force has responded to the Securities and Futures Commission's request and taken action to block Quantum AI's website and remove its related social media pages. Although the police have taken action, the public should beware that scammers may continue to establish websites and social media pages with similar domain names.

  • Brazil considers purchases of cryptocurrencies from foreign crypto exchanges as imports, with crypto purchases reaching $14.84 billion in the past 12 months

    Brazil's purchase of cryptocurrency from foreign cryptocurrency exchanges is considered an import, breaking records and adding weight to Brazil's trade balance. In the past 12 months, the amount of cryptocurrency purchases reached $14.84 billion, up from $12.3 billion last year. Similarly, cryptocurrency imports in the first quarter of 2024 reached $4.69 billion, an increase of 118% compared to the first quarter of 2023. In March, cryptocurrency purchases rose to $1.751 billion. (Bitcoin.com)

  • Canada Revenue Agency to Chase Crypto Tax Evaders for $39.5 Million in Suspected Unpaid Taxes

    According to the Canada Revenue Agency (CRA), nearly 400 audits have been launched to curb cryptocurrency tax evasion, with the aim of recovering CAD 54 million (approximately USD 39.5 million) in suspected unpaid taxes.

  • Brazil to Treat Foreign Crypto Purchases from Crypto Exchanges as Imports

    Brazil will consider purchasing cryptocurrency from foreign exchanges as imports, breaking its previous record and adding weight to Brazil's trade balance. In the past 12 months, cryptocurrency purchases have reached $14.84 billion, up from $12.3 billion last year. Similarly, in the first quarter of 2024, cryptocurrency imports reached $4.69 billion, a 118% increase from the first quarter of 2023.

  • Canada Revenue Agency steps up crackdown on virtual asset tax evasion

    The Canadian Revenue Agency (CRA) has announced that it has begun auditing about 400 cases and will strengthen its crackdown on virtual asset tax evasion. The Canadian Revenue Agency plans to recover approximately $39.5 million in suspected unpaid taxes related to virtual assets. The Canadian Revenue Agency explained that there is an urgent need to strengthen public education on tax obligations related to virtual assets, and the goal of strengthening the crackdown on tax evasion is to ensure that all taxable cryptocurrency transactions are accurately and transparently reported. Previously, Canada announced plans to implement the Cryptocurrency Asset Reporting Framework (CARF) of the Organization for Economic Cooperation and Development (OECD) by 2026. CARF is a tax standard designed to address virtual asset tax evasion issues, and its updated version stipulates that it can collect virtual asset transaction information outside its jurisdiction.

  • Barcelona-based Web3 Video Games Startup GFAL Raises $3.2M in Seed Funding to Expand Team and Accelerate Production Plans

    Barcelona-based startup GFAL has secured $3.2 million in seed funding from investors including Supercell Ltd and Mitch Lasky. The company plans to use the funds to expand its team and accelerate its game production plans, which leverage AI and Web3 technology for immersive gameplay. GFAL's Elemental Raiders mobile game soft-launched in March 2023, with plans to build on this for a 2024 launch. CEO Manel Sort expressed gratitude for the investment and excitement to work with former colleagues from Digital Chocolate.

  • Wu Jiezhuang, a member of the National Committee of the Chinese People's Political Consultative Conference, suggested that Hong Kong refer to IPO to provide innovative financing models for Web3

    Wu Jiezhuang, a member of the National Committee of the Chinese People's Political Consultative Conference and a member of the Hong Kong Legislative Council, wrote an article in the Hong Kong Wen Wei Po titled "Leading the Digital Economy by Adapting to the Web3 Trend". The article pointed out that developing Web3+ has both advantages and new challenges. The Hong Kong government has taken an important step in the direction of developing Web3 and the digital economy by formulating a short- to medium-term strategic development blueprint, ensuring that policies and resources are in place, and promoting the construction of Web3+ application scenarios. Focusing on Web3, establishing an international innovation financing platform can not only help Hong Kong leverage its traditional financial advantages, but also help it become a global digital technology center. It is suggested to refer to the mature mode of existing enterprises' IPOs in Hong Kong, provide an innovative financing model for Web3, and create a market trend and service competitive advantage to promote the development of the industry and attract upstream and downstream of the industry chain at home and abroad to gather in Hong Kong.

Daily Must-Read

Popular Activities

Delysium $AGI & AI Private Yacht Party

Delysium $AGI & AI Private Yacht Party

March 27 - March 27
Seoul

Popular Tags

Cointime
News
Contents
RSS
Company