Japan PM Appoints a Highly Crypto Focused Minister

Japan has a new Minister of Science, Technology and IT, in the form of Takuya Hirai. a Japanese politician of the Liberal Democratic Party. Prime minister Shinzō Abe, who is known for his views on monetary easing, fiscal stimulus, and structural reforms appointed Hirai, who has held a positive view on cryptocurrency and blockchain technology.

Hirai, a strong proponent for the regulation and legalization of digital assets in Japan, has garnered support from the crypto community. Bringing his background as the chair of the Liberal Democratic Party’s IT Strategy Special Committee, he is spreading blockchain throughout Japan and penning the country’s basic Cybersecurity law, enacted in 2015. He has been involved in educating various companies and industries the way to implement blockchain technology.

The new Minister is driving blockchain technology adoption while keeping a keen eye on security. With the recent hacks against Japanese cryptocurrency exchange, Zaif, who reported that the attackers left with 5900 BTC from the heist. This cyberattack has left customers missing funds and frozen accounts. Hirai plans on addressing these issues and aims to bring Japan up-to-date with the new technology. Hirai’s appointment as the new Minister of Science, Technology and IT, he will find himself overseeing official government policy towards financial technologies.