Shinzo Abe names pro-blockchain politican as Minister of Science, Technology and IT

Takuya Hira has played a crucial role in drafting a new law to legalise cryptocurrency exchanges in Japan

Japan Prime Minister Shinzo Abe has named an influential pro-blockchain politician as the Minister of Science, Technology, and IT.

The appointment of Takuya Hirai, a ruling Liberal Democratic Party (LDP) member, is part of Abe’s fourth cabinet reshuffle, local sources in Japan reported.

Last year, Hirai played a crucial role in drafting a law aimed at legalising cryptocurrency exchanges in Japan. He has also been credited with positive comments towards initial coin offerings (ICO). Local experts believe he will pave the way for the creation of ICO regulations.

Vital supervisory role

Hirau will be a key part of the supervision of government policy regarding financial technologies, among other priorities.

He  has been the chairperson of the LDP’s IT Strategy Special Committee and the FinTech Promotion Parliamentarians’ Federation. He is also credited for his role in writing up the country’s cybersecurity law, which was passed in 2015.

Disclaimer: The views and opinions expressed by the author should not be considered as financial advice. We do not give advice on financial products.

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