Japanese politicians can receive crypto donations, says Minister of Internal Affairs and Communications
|- Crypto donations need not be disclosed under the country's Political Funds Control Act.
- Politicians can’t receive donations in cash or securities.
The Japanese Minister of Internal Affairs and Communications, Sanae Takaichi, revealed in a press conference that Japanese politicians can legally accept cryptocurrency donations. As reported by Reuters, the crypto donations need not be disclosed under the country's Political Funds Control Act. The same Act prevents them from receiving donations via cash or securities.
Takaichi further expanded by saying that the law prohibits “monetary money” donations as fiat currencies and securities, and since “cryptographic assets do not fall under any of the above,” they are allowed. When asked about the possible negative repercussions of this regulation, Takaichi said:
“Because addressing this problem would limit the political activities of politicians, this problem will be discussed by each party and each group.”
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