Asia Web3 Alliance Japan has submitted a proposal to the U.S. Securities and Exchange Commission (SEC), advocating for strategic collaboration on tokenization and Web3 regulation.
Regulation Cooperation Proposal
The proposal sent to the SEC calls for a joint effort between the SEC, Japan’s Financial Services Agency, the Ministry of Economy, Trade and Industry, and the Bank of Japan to establish regulatory clarity and foster interoperability between the two markets.
Initiative Objectives
The initiative highlights several key objectives, including the development of a harmonized token classification framework to distinguish between tokenized securities, utility tokens, and non-security digital assets. It also proposes a safe harbor mechanism for early-stage token projects.
US-Japan Roundtable
A core component of the proposal is the launch of a US-Japan Web3 regulatory roundtable. This initiative would facilitate ongoing dialogue between regulators, legal experts, and industry leaders, ensuring both nations can share policy developments and research findings.
Asia Web3 Alliance argues that regulatory uncertainty remains a major challenge for Web3 startups. As a next step, an initial planning meeting between SEC officials and Japanese regulators is recommended.
