Japan's Liberal Democratic Party launches an On-Chain Finance Working Group to promote national-level blockchain finance strategy

Japan's Liberal Democratic Party today established the "Next Generation AI and Chain Finance Vision Project Group", founded by former Digital Minister Hiraiaki, with former Ministry of Finance official and current Chairman of the Liberal Democratic Party's Blockchain Promotion Parliamentarians Alliance Seiji Kiwara serving as director. He is committed to formulating a national-level AI-driven financial framework marks the official inclusion of blockchain finance into economic structural issues in Japanese political circles.<br /> Ping Jiangming said in an interview that the integration of AI and blockchain will take the lead in impacting the financial industry within a few years."This will not happen in 5 to 10 years." He pointed out that although Japan already has infrastructure such as JPYC stablecoin, Mitsubishi UFJ, Sumitomo Mitsui and Mizuho, and Tokenized deposits of Japan Post Bank, there is a lack of unified blueprint between the various components.<br /> The project team's immediate goal is to release a white paper covering regulatory reform proposals such as the Trust Law, Deposit Insurance and KYC Framework, and incorporate them into the Liberal Democratic Party's growth strategy and the government's annual fiscal policy guidance. At the same time, pressure the Financial Services Department and the Ministry of Finance to urge regulators to speed up their actions.