Bank of Japan intensifies CBDC research
Central bank appoints new CBDC head as ruling party warns Chinese effort poses security threat
The Bank of Japan has created a dedicated team to intensify its work on a central bank-issued digital currency, or CBDC.
The move comes after the Japanese government urged it to speed up its CBDC research, warning that Chinese efforts could threaten the country’s security.
The central bank has appointed Kazushige Kamiyama, director-general of the BoJ’s research and statistics department, to lead the dedicated team. The team works within the BoJ’s payment and settlement systems department
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