A well-known pro-blockchain politician, Takuya Hirai, has been tapped to become Japan’s Minister of Science, Technology, and IT.
Hirai’s appointment comes as part of a reshuffling conducted by Japanese Prime Minister Shinzō Abe’s cabinet.
Hirai is a member of the ruling Liberal Democratic Party (LDP), and is said to be one of the architects of a law legalizing crypto exchanges in Japan. He would be taking up the crucial role as head of the ministry — tasked, among other things, with supervising official government policy towards financial technologies.
Hirai has been hands-on in promoting blockchain as part of his function as chairperson of the Liberal Democratic Party’s IT Strategy Special Committee, as well as chairperson of the Fintech Promotion Parliamentarians’ Federation.
In addition, Hirai is accredited for his role in drafting Japan’s basic cybersecurity law, which was applied in 2015; at the time, Hirai remarked that the LDP “concluded that [the government] will, for now, avoid a move towards legal regulation” of cryptocurrencies such as Bitcoin (BTC).
Reports have also highlighted Hirai’s positive remarks when it comes to Initial Coin Offerings (ICO) at the JBA (Japan Blockchain Association) meeting last August; he has also advised the ICO Business Study Group at Tama University’s Rule Formation Strategy Institute.
In regards to advancements in establishing futures rules “such as the creation of voluntary ICO regulations in the future,” reports have indicated that “various support and efforts from the government are [to be] expected,” given the appointment of a figure that is well versed in crypto to the head post of the country’s Science, Technology, and IT Ministry.
- Hyundai Commercial Works With IBM for Blockchain Development 15 February 2019
- SEC Begins Review of NYSE Arca’s Bitcoin ETF Rule Change 15 February 2019
- Government Involvement Key to Crypto’s Success, Says Terry Duffy 15 February 2019
- Bradesco Closes Accounts of Local Crypto Exchange and Owners 15 February 2019
- JPMorgan Chase to Introduce “JPM Coin” 14 February 2019
Blockchain4 days ago
Santander Reaches $700 Million Deal to Use IBM’s Blockchain Tech
Cryptocurrency6 days ago
Crypto Could “Challenge Any Framework,” Says Financial Stability Board
Blockchain5 days ago
Blockchain Can Make Government “Incapable of Being Bribed” Says Overstock CEO
Cryptocurrency4 days ago
JPMorgan Chase to Introduce “JPM Coin”