Daily Financial Services Agency announces tokenized employee rights regulation mitigation plan to improve DAO legal framework

In Japan, with the development of Web 3, the legal framework related to "DAO" is being improved, including clarifying the legal nature of DAO composed of members participating in specific projects, application rules, the nature of members' responsibilities and rights, tax relations, etc. Measures set as options to facilitate DAO adoption. The Financial Services Agency announced in early February an amendment to the definition of Article 2 of the Financial Instruments and Exchange Act, with the goal of giving the specific token "joint company type DAO employee rights token" the same treatment as the rights of ordinary joint company employees. Through this measure, it is expected that employee rights restrictions in tokenized joint companies will be eased and the operation of the DAO will be more efficient. (Coinpost)