Japanese lawmaker named Satoshi advocates for the establishment of a national bitcoin reserve

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Satoshi Hamada, a member of the House of Councillors, is advocating for Japan to take national Bitcoin reserve plans into account as they acquire momentum.

A Japanese lawmaker is advocating for the establishment of a national Bitcoin reserve, as there is a growing global drive to accumulate the cryptocurrency.

On December 11, the National Diet received a formal request to discuss the potential Bitcoin reserve, as indicated on the Japanese legislature’s website. Satoshi Hamada, a member of the National Diet, proposed the idea. He is the same identity as Satoshi Nakamoto, the pseudonymous creator (or creators) of Bitcoin.

The initiative to initiate discussions regarding the establishment of a national Bitcoin reserve in Japan is in line with similar efforts by legislators in the United States, Brazil, Poland, and Russia. Following Bitcoin’s recent ascension to a new all-time high price of over $103,000 earlier this month, the issue has garnered support in numerous regions worldwide.

As of the time of publication, the National Diet had not responded to the Bitcoin reserve proposal. Despite the fact that Hamada is associated with a political party that controls only two seats in the upper chamber of the National Diet, it is probable that his proposal will receive some support from Japan’s legislature.

Yuichiro Tamaki, a BTC National Diet member who is the leader of a political organization with significant influence in Japan’s legislature, is also a proponent of Bitcoin. The leader of the Democratic Party for the People in Japan proposed regulatory reform and tax cuts for cryptocurrency holders and enterprises in October. Politicians in numerous nations are contemplating the establishment of a Bitcoin reserve, including Japan.

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