Tagged: bank of japan

Bank of Japan Official Argues that No Single Virtual Currency will Dominate Global Transactions

A Bank of Japan official recently noted that there’s no single virtual currency that will completely dominate global transactions, but only if reserve banks focus on enhancing their existing settlement systems. China, which has been leading the charge when it comes to implementing a national… Read More

CBDCs: Bank of Japan and the Central Bank in the Philippines Continue to Conduct Research to Determine Feasibility of Digital Currencies

The Bank of Japan or BOJ (JASDAQ: 8301), the nation’s central bank that’s headquartered in Chūō, Tokyo, has reportedly appointed Kazushige Kamiyama, a prominent economist, as its head of a department that’s tasked with conducting research on central bank digital currencies (CBDCs). Reuters reports that… Read More

CBDCs: China and Japan Continue to Work on their Respective Digital Currency Projects, New Reports Confirm

The global COVID-19 crisis has forced many businesses to either shut down or make significant changes to their business models. Individuals and companies are increasingly using digital platforms and services to conduct transactions or complete routine tasks that they normally carried out at physical locations…. Read More

Digital Transformation: Japan’s Big Banks are Studying Virtual Currencies and how to Make Banks and Cashless Payments Systems Interoperable

Japan’s largest banks will be looking into the potential benefits of using electronic money and digital currencies in order to make banks and cashless payments systems interoperable. The initiative has been launched by Japan’s Mitsubishi UFJ Financial Group, the world’s fifth-largest bank in terms of… Read More

CBDC: Bank of Japan’s Deputy Governor, Masayoshi Amamiya, Says Central Bank Digital Currencies Won’t Offer Significant Benefits to Developed Countries

Mature global economies like Japan’s won’t need a virtual currency, according to the deputy governor at the Bank of Japan (BoJ). While attending the Bank for International Settlement’s Future of Payments Forum, deputy governor Masayoshi Amamiya said that a central bank digital currency, or CBDC,… Read More

CBDC: Bank of Japan and Nation’s Financial Service Agency Held Talks to Determine Whether to Issue Central Bank Digital Currency

Central bank heads and finance ministers recently held discussions regarding crypto-asset regulations at the G-20 summit.  Japanese officials working at the Bank of Japan (BOJ), the nation’s Ministry of Finance (MOF), and Financial Services Agency (FSA) have held talks in order to determine whether the… Read More

CBDC: Bank of Japan’s Deputy Governor Masayoshi Amamiya Confirms Reserve Bank has No Immediate Plans to Launch Its Own Virtual Currency

The Bank of Japan (BoJ), the nation’s central bank, has been working on a virtual currency project for several years. The BoJ must be prepared to issue digital currencies if technical innovations in international settlement systems will increase consumer demand, the bank’s deputy governor noted… Read More

The Bank of Canada, Bank of England, Bank of Japan, ECB, Sveriges Riksbank, Swiss National Bank, and BIS Partner on Review of Central Bank Digital Currencies

A grouping of prominent central banks along with the Bank for International Settlements, have joined together to review the potential for Central Bank Digital Currencies (CBDCs). The banks and organizations include: the Bank of England, Bank of Canada, Bank of Japan, European Central Bank (ECB), … Read More

Libra Could Have “Huge Impact On Society” Says Bank of Japan Governor Haruhiko Kuroda

The governor of the Bank of Japan (BoJ) Haruhiko Kuroda has requested the international community to work together to develop a regulatory framework for stablecoins, including Facebook’s Libra. In statements shared with Reuters on Tuesday, Kuroda noted: “If Libra is introduced, it could have a… Read More

Bank of Japan Officials Fear Facebook Coin Could Destabilize Global Financial Systems

Officials at the Bank of Japan, Japan’s central bank, are reportedly concerned that Facebook’s new “difficult to regulate” cryptocurrency could have a calamitous effect on global financial systems, all while exploiting those very systems without paying the costs, Nikkei Asian Review (NAR) reports. Legislators in… Read More

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