Japan Minister Says Crypto Donations are Legal in the Country
The internal affairs and communication minister of Japan Sanae Takaichi said that cryptocurrency donations are legal in the country.
Takaichi said that in a press conference held on 8 October according to a report from local news agency Kyodo, syndicated by Reuters Japan.
Takaichi further added that the cryptocurrency donations made to individual politicians are not need any disclosure under the country’s Political Funds Control Act. Any donations made in cash or securities are fall under the act and needs disclosure.
She said: “cryptographic assets do not fall under any of the above, and don’t limit donations”.
Japan is in the few countries that legalise Bitcoin and Cryptocurrencies. In 2017, Japan passed a law that allow Bitcoin as a legal payment method. The law also brought Cryptocurrency exchanges under Anti Money Laundering (AML) and Know Your Customer (KYC) rules.
