Japan’s regulatory and political environment for crypto and Web3 technologies has been evolving rapidly over the past several years. The Financial Services Agency of Japan reported in December 2022 it planned to lift restrictions on foreign-issued stablecoins in Japanese exchanges, which could have significant implications for the decentralized finance (DeFi) ecosystem in Japan and the wider region. 

Furthermore, the Japanese government’s announcement that it plans to invest in nonfungible tokens (NFTs) and the metaverse highlights the increasing recognition of the potential of Web3 technologies to transform various sectors of society and the economy.

On the backdrop of these significant strides for blockchain and cryptocurrency, industry insiders from around the world gathered at the historic Kanda Myojin Shrine in Tokyo for DAO Tokyo 2023, a conference focused on decentralized autonomous organizations (DAOs) and organized by Fracton Ventures.

The lineup of keynote speakers spanned various sectors of the DAO ecosystem, including ENS DAO, which manages the Ethereum Name Service; Shibuya, a decentralized social media platform; the dYdX Foundation, an independent foundation dedicated to decentralized exchange dYdX; and more.

(by Tamara Soykina)