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CBDC’s set to be included in Japan’s official economic roadmap

 
CBDC’s set to be included in Japan’s official economic roadmap
Breaking News / Crypto Market
  • The government in Japan is expected to include consideration of a central-bank digital currency in its official economic plan. 
  • According to a local report, the consideration for this move will be included in the Honebuto plan for economic and fiscal revitalisation.

The government in Japan is expected to include consideration of a central-bank digital currency in its official economic plan. According to a local report, the consideration for this move will be included in the Honebuto plan for economic and fiscal revitalisation. This plan is the building blocks for the economic and fiscal policy in Japan with the report highlighting that the government will be coordinating with other nations as they consider their own CBDC.

Earlier this month, the Bank of Japan made the announcement that it will start experimenting with the digital agenda to check its feasibility from a technical perspective and now they have announced the news that they will include consideration for it in their economic roadmap.

This all comes after China started testing for its own digital yuan/CBDC. In response to this, the Japanese government has put the foot down on his preparations for its own central-bank digital currency. Earlier this year in an interview with Cointelegraph Japan, Kozo Yamamoto of the Liberal Democratic party said the following:

“If Japan doesn't issue a digital currency and people in the world use other digital currencies, the Japanese yen will be forgotten and lose its sovereignty”.

This is an interesting development overall as in July last year, the bank of Japan seemed adamant that they were never going to issue a CBDC. But in a report last month, it was revealed that they were starting to look into the decent asset.

It will be interesting to see how this situation plays out. For more news on this and other crypto updates, keep it with CryptoDaily!

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