Recent reports indicate that Japan might be moving towards launching its own CBDC, although uncertainty remains high due to reports that deny the decision.
Japanese lawmakers might be moving in on the crypto space
Ever since Facebook confirmed the rumors that it plans to launch its own cryptocurrency, lawmakers, regulators, and central banks around the world started taking the crypto sector a lot more seriously. While some were in a hurry to try and come up with rules and regulations for the digital assets, central banks decided on a different approach.
Many of them started working on their own digital currencies, calling them CBDCs (Central Bank Digital Currencies). The new trend was sparked by China’s announcement of the upcoming ‘digital yuan,’ but many others were soon to follow.
Now, according to a recent report by Reuters, Japan might be the next in line to announce its own CBDC, with many assuming that the move comes as a response to Libra and digital yuan. The report says that the coin might be a joint initiative between…