The Government of Japan will include CBDC in the Economic Acceleration Program
The Government of Japan has decided to include the Central Bank’s cryptocurrency project in the country’s economic development program.
The decision was made about two weeks after the Bank of Japan announced the imminent start of testing the digital yen (CBDC).
According to the Nikkei business publication, Honebuto’s economic recovery program will be part of Japan’s national strategy. The regulated Central Bank token will be used within the framework of this program not only as a payment instrument but also as a key element of a qualitatively new financial infrastructure, the creation of which the Central Bank has been working for more than a year.
Japan decided to expedite the launch of the CBDC after the People’s Bank of China announced that the digital renminbi trial was successful. It is believed that the digital version of the yen will become a direct competitor to the Chinese token in the Asia-Pacific region.
Recently, former Japanese Finance Ministry official Kojo Yamamoto said:
If Japan does not release its digital currency, and people begin to use other tokens in the world, then the Japanese yen will be completely forgotten.
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