Japan’s finance industry awaits clearer picture of digital yen in 2022
The digital yen should be compatible with other CBDCs to counter China’s progress with its digital yuan, one official argued. Japan will have more clarity on the design of its central bank digital currency no earlier than late 2022, according to a ruling party official.Hideki Murai, head of the ruling Liberal Democratic Party’s panel on digital currencies, said that the Bank of Japan is still working on sorting out the key functions of the digital yen, such as defining what entities would serve as intermediaries between the central bank and deposit holders.“By around the end of next year,....
Related News
The Japanese Ministry of Finance is hiring more staff to develop stricter global rules for digital currencies, particularly fiat-pegged stablecoins. Japan is strengthening its efforts to regulate digital currencies on a global scale, with related government authorities reportedly looking to expand staff to impose stricter rules.Japanese regulators have expressed fresh concerns over the massive growth of the cryptocurrency market, particularly cautioning against stablecoins, Reuters reported on Friday.Tokyo is willing to engage with global financial regulators to develop stricter rules for....
Japan’s finance minister Taro Aso suggested on Tuesday that the G7 finance ministers should have discussions over central bank digital currencies (CBDCs) in Friday’s virtual meeting. Read more: G7 Officials Stress Need to Regulate Digital Currencies: US Treasury
Japan’s finance minister, Katsunobu Kato, told attendees at WebX2025 in Tokyo that crypto assets can be part of diversified portfolios if an appropriate framework is put in place. Related Reading: Bitcoin Forever? Michael Saylor Predicts 2 Decades Of 30% Gains WebX2025 ran on August 25–26 and drew top officials and industry figures. The remark came […]
Bundesbank President Jens Weidmann has expressed that FinTech requires more regulatory oversight because of its potential to threaten financial stability and the banking sector. In a Reuters report, Weidmann, who is part of the European Central Bank’s Governing Council, is reported as saying that a clearer picture is needed to understand better in what way FinTech could potentially pose a risk to the finance industry. He said: Many believe the most disruptive potential is to be found in blockchain or distributed ledger technology, which promises to allow payment transactions and securities....
Ripple and XRP moved further into institutional finance after Mastercard, Ondo Finance, and Kinexys by JPMorgan completed a major blockchain-based settlement pilot involving tokenized US Treasuries. Announced on May 6, 2026, the pilot transaction connected the XRP Ledger with traditional interbank payment rails, offering a clearer picture of how blockchain networks operate alongside global banking […]