Crypto Donations to Political Parties in Japan Will Not Be Subject to Regulation
It may be hard to believe that this got past the parliament, but crypto donations to political parties have been deemed completely legal without having to adhere to any type of regulations.
Well, even that weak tool has now been jeopardized with the non-inclusion of cryptocurrencies in the regulation. However, Japan could be the only place where such a thing is possible, due to an extremely low number of cases where corruption was sighted.
There used to be talks about using cryptocurrencies for funding smaller political parties in various other countries as well, especially in Eastern Europe where democracy is still trying to solidify its footing.
If the government would implement something remotely similar to what Japan just did it would be like a lobbyist's dream come true. Why? Because they would have absolutely nothing stopping them from “donating” large sums of funds to individual politicians rather than the government to help pass laws to solidify a monopoly that is already in the making.
Back to the list