WORLD FIRST COUNTRY ACCEPT BITCOIN FOR LEGAL FOR RECEIVING GOVERMENT FUNDS

in #cryptocurrencydonation5 years ago (edited)

crypto donations to political parties received approval from japan’s government and subject area minister sanae Takaishi at a news conference on Tuesday.

according to a document by local media Kyodo news and syndicated by Reuters, Takaishi said political donations in cryptocurrency do not have to be disclosed under the overall political fund's control law, not like cash and securities. hence, crypto donations may be made without limit.

“the cryptographic amount does not fall under any of the above [regulations], and don’t breakpoint donations,” the minister said.

as crypto donations also become mainstream japan’s political parties will have to address regulation and rules themselves, Takaishi continued.

“because it will limit the political activities of politicians, it will be a problem to be investigated by each party and each group.”

japan’s cryptocurrency industry is regulated by the financial services agency (FSA) which approved zero exchange openings in 2018 and only 16 in 2017.

Source: coindesk.com

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