Japan confirms cryptocurrency donations to politicians

Donations in bitcoins and other cryptocurrencies to political funds in Japan have legal status and are not regulated by the relevant law. This was stated by the Minister of Internal Affairs and Communications of Japan Sanae Takaichi, reports Reuters Japan .

At a press conference, Takaichi explained that donations made to cryptocurrencies to politicians are not subject to declaration in accordance with the Law on the Control of Political Funds. Other types of assets, such as cash or securities, funds are required to disclose.

“Cryptocurrencies do not fall under one of the above definitions and have no restrictions on contributions,” the minister said.

According to Takaichi, this issue should be discussed by parliament, and before amendments to the law are made, any restriction on contributions in cryptocurrencies will be an interference in political activity.

Recall that in 2017, Japan recognized cryptocurrencies as a legal means of payment in the country.

It is noteworthy that in other countries where the status of digital currencies is not defined, politicians also attempted to collect donations in bitcoins, for example, in Russia or the United States .

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