A group of liberal democrats from Japan is working on a bill to issue a national digital currency. As the deputies say, they are concerned about the pace of developing crypto-yuan in China, so they decided to bring this issue up for discussion.
According to Norihiro Nakayama, the Deputy Foreign Minister, the development of a national cryptocurrency can be held by government agencies in partnership with private companies. This will enable Japan to keep pace with global changes in financial technology, he added.
“The first step would be to look into the idea of issuing a digital yen. China is moving toward issuing digital yuan, so we’d like to propose measures to counter such attempts,” – said Nakayama.
They plan to complete the document by the beginning of February. Earlier we wrote that Binance will limit access to the exchange for users from Japan.
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