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

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.

Japan: FSA favours crypto with ‘appropriate regulation’

By – October 3, 2018

Olivier Acuña

Olivier has been writing for over 30 years. He has been based in six countries working for major news outlets including the Guardian, UPI & AP. He has covered massive earthquakes, presidential elections, immigration, and taken photos standing in the middle of shootouts between drug cartels, gone undercover to investigate organised crime, interviewed presidents, former presidents, heads of international organisations.