A Crypto Advocate Wins Seat in Japanese Parliament
A prominent supporter of cryptocurrency in Japan, Takeshi Fujimaki, has secured a seat in the country’s lower parliamentary house, known as the House of Councilors. Fujimaki, who is 73 years old, regained his position through proportional representation following the death of a sitting lawmaker. Throughout his political career, Fujimaki has been an advocate for crypto tax reform and the adoption of pro-crypto business policies. He has also called for the elimination of taxes on crypto-to-crypto trading and micropayments made in cryptocurrency. Fujimaki believes that blockchain and cryptoassets can play a crucial role in revitalizing Japan’s economy by attracting capital and talent from around the world.
Japanese Lawmakers Pushing for Crypto Adoption?
Fujimaki has extensive experience in international finance and has emphasized the importance of blockchain and cryptocurrencies for Japan’s future growth. He argues that these sectors can contribute significantly to the country’s economy and help attract global investment and skilled individuals. Other Japanese politicians have also shown interest in fostering the crypto sector, including Yuichiro Tamaki, the Leader of the opposition Democratic Party for the People, who advocates for promoting Web3 and implementing a flat tax rate of 20% on cryptocurrencies. Domestic crypto exchanges have also called for changes to Japan’s tax code, while lawmakers like Shun Otokita have urged the government to revise its crypto tax laws.
Hot Take: A Boost for Crypto Advocacy in Japan
The election victory of Takeshi Fujimaki is a significant development for crypto advocacy in Japan. With his extensive experience in finance and his support for crypto tax reform and pro-crypto business policies, Fujimaki can play a vital role in shaping legislation related to cryptocurrencies and blockchain technology. His emphasis on attracting capital and talent through the adoption of crypto-friendly policies aligns with the growing global trend of countries recognizing the potential of digital assets. Fujimaki’s election victory reflects the increasing interest and recognition of cryptocurrencies among Japanese lawmakers, which could lead to a more favorable regulatory environment for the crypto industry in Japan.
By
By
By
By