Crypto-based Donations to Politicians Are Not Prohibited by Law In Japan

By Shannon Wilson | October 9, 2019

Sanae Takaichi – the Japanese minister in charge of internal affairs and communications – has reportedly claimed that it is not prohibited law to make crypto-based donations to politicians in the nation.

As reported by Reuters, Takaichi has shared the revelation during a press conference that happened on October 8th. Specifically, she claimed that cash or securities-based, donations in the form of crypto is not considered illegal, when viewed under the Political Funds Control Act.

According to the report, Takaichi further clarified that Japan law only ban donations that have been completed in the form of fiat currencies and securities, and digital coins “do not fall under any of the above, and don’t limit donations.”

Takaichi has also provided her responses to the concerns, regarding the possibility of negative effects can be brought upon by this legislation: 

“Because addressing this problem would limit the political activities of politicians, this problem will be discussed by each party and each group.”

Tags: , ,