Bank of Japan Governor: The issuance of central bank digital currency must undergo national discussion
Governor Ueda gave a speech at a financial technology event co-hosted by the Japanese Ministry of Finance and Nikkei News in Tokyo, stating that the Bank of Japan has been committed to building a CBDC system since April last year, including conducting commercial simulations of the digital yen. Unlike common virtual currencies such as Bitcoin, CBDC is a digital currency issued by the central bank, and major central banks including South Korea are conducting various reviews. During the CBDC review process, we will outline a future vision of a payment system suitable for the digital society, and we need to balance our thinking between the global and Japanese perspectives. The use of data may improve convenience for consumers and create new value. Regarding privacy infringement and money laundering issues, he stated that even if there are currently no problems, we need to imagine what problems may arise in the future.
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