Japan Fears China’s Digital Currency, Suggests Timeline for Digital Yen

Rumors that Japan was preparing plans for a digital yen have been confirmed today. A senior ruling party lawmaker Kozo Yamamoto stated: “the sooner the better.” Digital Yen to Counter Libra Threat As part of a six-central-bank coalition including the UK, Sweden, and the EU, Japan appeared to be taking a slow but steady approach toward a state-backed digital currency. However, it seems that the Japanese ruling party no longer wants to wait. Facebook’s push to counter nation-states’ control over money coupled with China’s progress on its digital RMB has…

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