The draft of the guide to real-world asset Token (RWA) in Japan has been released, and the consultation has been completed

The Japan Cryptocurrency Business Association (JCBA), a general incorporated association, recently announced the release of a draft of guidelines for the application and utilization of Real World Asset (RWA) Tokens and has begun soliciting opinions. This initiative is part of the Ministry of Economy, Trade and Industry's "Verification project for utilizing Web3.0 and blockchain technology to build digital public goods." The following will provide an overview of the guidelines and detailed information on the solicitation of opinions.

Background and Challenges of Japanese RWA Token Application

Web3.0 and blockchain technology as a future potential innovation technology, are attracting attention, but still face several major challenges, including:

Private enterprises have difficulty seeing the specific value clearly.

The lack of economic rationality in building public infrastructure with high publicness

The legal regulations are complex and many areas are unclear

Due to these challenges, the practical application and popularization of related technologies in society have been limited. To address these issues, the Japan encryption asset business association is combining expert opinions and committed to promoting business development based on RWAToken.

The main content and objectives of the Japanese RWA Guide

This draft guide is mainly for enterprises that wish to engage in or consider engaging in RWA business, with the goal of building a market for the issuance and circulation of digital assets. The content includes the following points:

1. Conditions for Token Transfer Sorting

Regarding the transfer of Tokens on the blockchain, the relevant conditions for transferring corresponding real-world assets are summarized, including legal issues such as the third-party opposition conditions in the Civil Code.

2. Consolidation of Credit and Debt Relationship

Organize the debt relationship related to Token and provide a template for promoting smooth accounting and auditing.

3. Identification of Mid-to-Long-Term Issues

Sorting out institutional issues including ownership of intangible assets, and proposing solutions from a medium to long-term perspective.

The draft guide was officially announced on November 29, 2024, and the public consultation was launched, with a deadline of December 19, 2024.

The development of this guide is an important step in the widespread application of Web3.0 and blockchain technology in the real world. By revitalizing the digital asset circulation market and promoting the practicality of RWA Token, it is expected to create new social value.

This article, the draft of the Japanese Real World Asset Token (RWA) Guide, has been released, and the solicitation of opinions has been completed, first appeared in ChainNews ABMedia.