Representatives of Bank of Japan confirmed that they do not plan to launch a national digital currency. However, according toAccording to them, the bank should be ready for the issue of CBDC in case of need.
Deputy Governor of the Bank of Japan (BoJ)Masayoshi Amamiya confirmed that the regulator decided not to issue cryptocurrency. According to her, despite the fact that the bank does not plan to develop CBDC, it will continue to study blockchain technology and options for its application.
According to the deputy, the Central Bank will be ready for implementation.new technologies “in the case of a significant increase in demand for digital currencies among the population”. In addition, the bank’s management believes that “banking and the financial sector will not change much even in the case of mass adoption of cryptocurrencies.”
Recall that earlier Amamia stated that the introduction of digital currencies “could destroy the credit channels of commercial banks and have a negative impact on the economy.”
At the moment Japan – one of the mostadvanced countries in the development of blockchain and innovative technologies. Recently, the country's government announced its intention to create an international network for cryptocurrency payments, similar to the SWIFT banking system. However, BOJ representatives have repeatedly rejected the idea of creating a national digital currency.
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