Reuters: Bank of Japan Explores Digital Currency Issue

Bank of Japan Governor Haruhiko Kuroda said that the Bank of Japan does not plan to issue a digital currency, butconducts research in case the need arises in the future.

Haruhiko Kuroda noted that stablecoins should not be issued unless there is a sufficient framework to ensure they are governed and prevent the associated risks.

“If stablecoins backed by companies withhuge customer base, will be issued worldwide, this may affect monetary policy and the stability of the financial system,” — Kuroda said during his speech in parliament.

When mentioning Kuroda global stablecoins,apparently meant Facebook's Libra cryptocurrency, the planned release of which next year is causing considerable concern among regulators around the world. At the end of October, the five largest economies of the eurozone, at the initiative of France, decided to unite to prevent the development of the Libra stablecoin in their jurisdictions. In addition, the US Treasury Department has committed itself to overseeing the Libra project.

In September, Haruhiko Kuroda also called forinternational cooperation to ensure stablecoins like Libra are properly regulated. In July, Bank of Japan Deputy Governor Masayoshi Amamiya ruled out Japan issuing a state-owned cryptocurrency because it would require the country to stop using cash.

</p></p>