Altcoin News: Crypto Donations Validated in Japan

October 8, 2019, by Marko Vidrih on ALTCOIN MAGAZINE

The Minister of Internal Affairs and Communications of Japan, Sanae Takaichi, said that cryptocurrency donations have legal status in the state. Such a statement, she made in a press conference on Tuesday, writes The Block, citing local media.

The Minister also noted that cryptocurrency donations directed in favor of certain politicians are not subject to declaration in accordance with the law on control of political assets. At the same time, donations in traditional currency or securities must be declared as required by law.

“Cryptocurrencies do not fall under any of the above,” Takaichi said.

In July, it became known that Japan will lead the initiative to create an international network of cryptocurrency payments.

At the end of last year, the Japan Financial Services Agency ranked cryptocurrencies, such as Bitcoin, in a new legal category called “crypto-assets”.

Author: Marko Vidrih