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| Japan is considering developing its digital currency in response to China |
Japan is considering the possibility of issuing its own digital currency, while a group of rulers from the ruling party suggest that Japan issue its own digital currency in response to Tokyo's response to Facebook's digital currency, balance, and Chinese plan to launch the RMB to bring the market. Fears and fears.
"The digital currency could be a joint initiative between the government and private companies that will allow Japan to adapt to the global change in financial technology," said Deputy Foreign Minister Norihiro Nakayama.
"China aims to issue digital currencies, so we would like to suggest measures to respond to these attempts, and the first step will be to consider the idea of issuing a digital yen," said Zhongshan, who is important from around LDP 70. -Delegierten.
The faction plans to present the government's proposal early next month, and although technical and legal barriers make it unlikely that Japan will issue digital currencies in the short term, this decision is made after the Bank of Japan's decision in exchange for six other central banks contact. Experience the future yet.
Prime Minister Shinzo Abe said political interest in digital currencies is increasing, and the Japanese government will work with the Bank of Japan to research digital currencies and find ways to increase the exchange rate of the yen.
Some Japanese lawmakers have expressed concern about the Beijing move and said it is trying to expand the use of the renminbi as a currency for payment in emerging economies. Japanese Finance Minister Taro Aso said earlier this month that if the digital renminbi has become a common international payment method, then there will be a very serious problem if Japan pays for US dollar transactions.
Facebook's plan to bring digital currency balance to the market prompted central banks to speed up the process of examining digital currency issues. With major central banks, China is a pioneer in creating its own digital currency, although details of its plans are still rare.
Former Bank of Japan board chairman Takahashi Takahashi said: China and Japan are considering various reasons for issuing cryptocurrencies because the Chinese drive is to increase the impact of the renminbi in the European Union. To change the country's love culture for criticism. ,
He added: "The Bank of Japan may not want to do anything to impede innovation in the private sector. The best way is to issue a mixed digital currency managed and issued by a company with the participation of the central bank."