Japanese Interior Minister Sanae Takaichi has stated that cryptocurrency donations to political campaigns are legal in the country.
At a press conference on Tuesday, Takaichi stated that donations in cryptocurrencies made to individual politicians are not subject to disclosure in accordance with the Law on the Control of Political Funds. At the same time, donations made in cash or in the form of securities are subject to disclosure in accordance with the law.
“Cryptocurrencies do not fall into any of the listed categories, therefore, data on donations in crypto assets cannot be disclosed,” Takaichi said.
Japan for the first time outlined its attitude towards donations in cryptocurrencies for political campaigns, while in the United States the discussion on this subject has been going on for several years. In the spring, it became known that the US presidential candidate accepts donations for his campaign in cryptocurrencies.
At the same time, the state of Michigan banned donations in cryptocurrencies for political campaigns last fall, and earlier such donations were banned in California. Currently, the US Federal Electoral Commission allows candidates to accept cryptocurrencies as donations in non-monetary form.
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