Japan’s finance ministry is reportedly planning to launch an expert panel next month in order to explore the feasibility of a digital Yen, or central bank digital currency (CBDC). According to NHK, this panel will use the findings of over two years of proof-of-concept experiments conducted by the Bank of Japan (BOJ).
Additionally, a pilot program involving the BOJ and other financial stakeholders will begin at the same time. The ministry intends to consider the opinions of the panel in order to prepare for a potential introduction of a digital yen, despite statements from BOJ officials saying they have no plans to issue one.
As President of the G-7 industrialized nations this year, Japan is reportedly planning to drive tougher global cryptocurrency regulations, according to a report by Kyodo news.
