Japan Is Seriously Considering a Digital Yen: Report
As rivals and allies move forward with their own CBDC plans, Japan will seriously consider a digital yen as part of this year's policy agenda.
Jul 15, 2020 at 12:09 p.m. UTCUpdated Aug 19, 2021 at 3:06 a.m. UTC
:format(webp)/cloudfront-us-east-1.images.arcpublishing.com/coindeskuat/4L6S7PDEEBEMHOZ53HQCISQDQM.png)
As allies and rivals move in on their central bank digital currency (CBDC) plans, Japan is now said to be seriously considering a digital yen.
- The government is set to examine the possible launch of digital yen as part of this year's policy agenda, the Nikkei reported Wednesday.
- Senior lawmakers for the erstwhile cash-addicted country have been calling on the government to collaborate with its allies on a CBDC since early February.
- The Bank of Japan already said this month it was experimenting with a CBDC but said there were no immediate plans to launch one.
- Geopolitical rival China is close to launching its own CBDC; major companies are already in advanced discussions to test it as a new payment option.
- The Bank of England's governor said this week that the U.K. central bank was also seriously considering a CBDC.
STORY CONTINUES BELOW
13:18
Bitcoin Mining in the U.S. Will Become 'a Lot More Decentralized': Core Scientific CEO
05:10
Binance to Discontinue Its Nigerian Naira Services After Government Scrutiny
04:07
The first video of the year 2024
40:07
The last regression video of the year 3.67.0
:format(webp)/downloads.coindesk.com/arc/failsafe/user/1x1.png)