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Japan's Digital Yen Plan to Become Clearer Late 2022
Summary: Japan will have more clarity on what a digital yen would look like late next year, a lawmaker overseeing the ruling party’s digital currency plan said, potentially sparking a turf war between traditional lenders and online platform operators, according to Reuters. The Bank of Japan in April launched the first phase of its central bank ...
Japan will have more clarity on what a digital yen would look like late next year, a lawmaker overseeing the ruling party’s digital currency plan said, potentially sparking a turf war between traditional lenders and online platform operators, according to Reuters.
The Bank of Japan in April launched the first phase of its central bank digital currency (CBDC) experiment, and it hopes to move to the second phase next year to lay out some key functions of a digital yen, such as which entities will serve as intermediaries between the BOJ and deposit holders.
“By around the end of next year, we’ll have a clearer view of what Japan’s CBDC would look like,” Hideki Murai, who heads the ruling Liberal Democratic Party’s panel on digital currencies, told Reuters in an interview.
By Amy Liu
Tags: CBDC,Digital Yen,Japan
Link: Japan's Digital Yen Plan to Become Clearer Late 2022 [Copy]
