Crypto Outpaces Political Donation Laws in Japan

A major Japanese news publication has reported that crypto donations to individual politicians are legal and do not need to be reported publicly as donations. Japan’s Ministry of Internal Affairs and Communications verified that even though it is illegal to donate cash or securities directly to a politician or political campaign, crypto donations still fly under the radar due to technicalities in classification. The loophole has some commentators in the country saying current laws “do not keep pace with the times.”

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Unreported Crypto Donations Are Legal

Japanese media outlet Yomiuri Shimbun reported Saturday that “Cryptographic assets, donations to individuals [are] legal,” even where direct individual donations to politicians currently are not when it comes to Japanese yen and marketable securities, stocks and bonds.

Under current provisions, political donations in fiat currencies…