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Japan to Allow Unregulated Political Donations in Cryptocurrency

Cryptocurrency donations to political campaigns in Japan will not be regulated, stated politician Ms. Sanae Takaichi. This adds to Japan’s liberal stance on digital assets, potentially opening doors for new types of political funding.


JAPAN SEES CRYPTO AS ECONOMIC GREY AREA


Japan recognizes the existence of digital coins, but does not consider them legal tender. Regulations on political donations only affect fiat money and stock. If a political party receives crypto funds, this is perfectly legal. There is also no requirement to disclose the holdings as part of the campaign transparency laws.


Japanese politicians may thus become crypto-rich with no limitations. However, switching to fiat would possibly mean the donation falls under the rules for disclosure. Read More...

#Japan #Cryptocurrencies

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