Loading...

Japan launches expert panel to explore the feasibility of digital Yen

Japan Launches expert panel to explore the feasibility of Digital Yen

Contents

Share link:

In this post:

  • Japan’s finance ministry is reportedly planning to launch an expert panel next month in order to explore the feasibility of a digital Yen.
  • A pilot program involving the BOJ and other financial stakeholders will begin at the same time.

Japan’s finance ministry is reportedly planning to launch an expert panel next month in order to explore the feasibility of a digital Yen, or central bank digital currency (CBDC). According to NHK, this panel will use the findings of over two years of proof-of-concept experiments conducted by the Bank of Japan (BOJ).

Additionally, a pilot program involving the BOJ and other financial stakeholders will begin at the same time. The ministry intends to consider the opinions of the panel in order to prepare for a potential introduction of a digital yen, despite statements from BOJ officials saying they have no plans to issue one.

As President of the G-7 industrialized nations this year, Japan is reportedly planning to drive tougher global cryptocurrency regulations, according to a report by Kyodo news.

Disclaimer. The information provided is not trading advice. Cryptopolitan.com holds no liability for any investments made based on the information provided on this page. We strongly recommend independent research and/or consultation with a qualified professional before making any investment decision.

Share link:

Most read

Loading Most Read articles...

Stay on top of crypto news, get daily updates in your inbox

Related News

Axies image taken from Axie Infinity official X account
Cryptopolitan
Subscribe to CryptoPolitan