Asia Web3 Alliance Japan proposes US-Japan collaboration to promote tokenized economy and Web3 innovation

Odaily Planet Daily News Asia Web3 Alliance Japan submitted a proposal to the US SEC Crypto Task Force, suggesting the establishment of a US-Japan tokenization and Web3 regulatory cooperation plan, jointly with the SEC, the Japanese Financial Services Agency (JFSA), the Ministry of Economy, Trade and Industry (METI) and the Bank of Japan (BOJ). The goals include: 1. Formulate a unified token classification framework to clarify "tokenized securities", "utility tokens" and "non-securities digital assets"; 2. Promote regulatory interoperability and support cross-border issuance of compliant tokens; 3. Design a safe harbor mechanism for early token projects, and learn from the US model to launch sandbox testing in Japan; 4. Establish cross-border token trading and custody standards; 5. Initiate a US-Japan Web3 regulatory roundtable to continuously share policies and research results. The proposal suggests holding a preliminary meeting, forming a joint working group, and selecting 2-3 US and Japanese startups to pilot cross-border token issuance, aiming to overcome the challenges faced by Japanese Web3 startups such as unclear classification, heavy compliance burdens and limited global market access.