BoJ: No conclusion yet on issuing digital currency

Wednesday, 28. October 2020 08:26

Bank of Japan's head of central payment system, Kazushige Kamiyama, commented on Tuesday that "there is no conclusion yet" on the matter of issuing digital currency, as the move would first need to receive public support.

"At the end of the day, there's no way we can proceed without gaining sufficient understanding from the Japanese public," Kamiyama said, adding that digital yen will improve the country's transaction ecosystem once it is established. He concluded by reiterating that the digital currency would coexist with fiat money.

The testing of digital yen in Japan is set to start in 2021.

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Breaking the News / ND