The Coordination Committee Will Decide Whether Japan Needs CBDC
The new body will monitor tests with THE CBDC, during which they will check the technical feasibility of creating a digital yen, the performance of its core functions and components
CBDC testing will be conducted in the new fiscal year starting in Japan on April 1. Private companies and government organizations will be involved in the ambitious task.
The task of the coordination committee is also to ensure the unhindered introduction of the national cryptocurrency in Japan. To that end, public education will be carried out with individuals and businesses.
Thus, despite the statements about the absence of plans to implement the CBDC, the Japanese regulator prepares the ground for the rapid launch and deployment of the project.
Most likely, Japan is afraid to miss out on opportunities related to CBDC. Seeing how actively other countries are engaged in the development of digital national currencies, it is difficult to remain indifferent.