Cryptocurrencies, in Japan it is legitimate to use them to support the parties

In Japan it is entirely lawful for politicians, use cryptocurrency donations to fund the electoral campaigns. On the other hand, it is illegal to accept other forms of donation without making an open and formal "advertisement". An opening that, however, risks further complicating the already complex regulatory framework in Japan, where parties are supported by copious capital requirements, useful for marketing, organization and logistics, but where it is illegal for individuals individuals donate to the cause of their favorite candidate, except by following strict rules.

Well, in this area the cryptocurrency donations in Japan they got the green light, with the recognition of the legality of their donations as individual contributions to politicians. A potentially beneficial treatment, given that current provisions stipulate that political donations in the form of fiat currencies or other financial instruments must be publicly declared by the people or organizations that receive them, but that this does not work for cryptocurrencies.

This was stated by the Japanese Ministry of Internal Affairs and Communications, according to which individual politicians can freely accept the funding of their cryptocurrency campaigns, without having to notify the amount or source of funding.

Of course, the government's commitment to urgently update the current law on the control of funds to political parties is clear, in order not to create evident disparities between different instruments, which however pursue a unitary purpose.

Moreover, in Japan many analysts are incredulous at the attitude of the Japanese Financial Services Agency (FSA), which is not reaching a full regulation of the functioning of cryptocurrencies in the country ...