Japan Says Crypto Donations are Legal
Main page News, Japan, Cryptocurrency
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Oct. 8, 2019
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Sanae Takaichi, Japan's Internal Affairs and Communications minister, has just said crypto donations are legal in the country, Reuters has reported citing several statements made during a press conference held today.

In addition, Reuters has said that unlike donations made in cash or stocks, the country's Political Funds Control Act does not require to disclose any information about this type of donation.

Japan is one of the most crypto-friendly countries in the world, as in 2017 it passed a law which recognized bitcoin as a legal payment method. In addition, it has adopted a very active role in the regulation of the industry, for example by requiring cryptocurrency trading platforms to implement compulsory AML and KYC measures.

In July iHodl reported Japan is developing a crypto payment network similar to SWIFT. Apparently, the ultimate goal of the project is to create a network that can be used internationally and can help prevent money laundering.

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