Reports are emerging that Japan has been urged to accelerate its central bank digital currency development in order to compete with China.
Crypto Yen in 2020?
According to Reuters a group of Japanese ruling party lawmakers has urged the government to issue the country’s own crypto currency. The group has been headed by former economy minister Akira Amari who submitted the proposal on Friday.
A reported 70 politicians from Japan’s ruling Liberal Democratic Party have been working on the proposals which have been released today.
The move comes a week after Japan’s largest social network, LINE, has announced the launch of its own crypto currency ‘Link’.
A senior lawmaker in Prime Minister Shinzo Abe’s ruling party has stated that the country needs closer cooperation with the US to curb the potential influence of China’s…
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