‘No Plan to Issue CBDC’ — Bank of Japan Governor

"No Plan to Issue CBDC" — Bank of Japan Governor

Haruhiko Kuroda, the governor of the Bank of Japan (BOJ), has said the bank is currently not planning to launch a digital currency. The remarks come just a few days after the BOJ announced the commencement of the second phase of central bank digital currency experiments. Role of CBDC in People’s Lives

The governor of the BOJ, Haruhiko Kuroda, recently disclosed the central bank’s stance on issuing a digital currency has not changed — it will not issue a central bank digital currency (CBDC). The governor, however, insisted the BOJ will still continue “to carefully consider the expected roles of central bank money” in people’s lives today and in the future.

In remarks made while delivering a speech at a Fintech Summit in Japan, Kuroda explained why the central bank is not rushing to launch a CBDC. He said: We consider it important to prepare thoroughly to respond to changes in circumstances in an appropriate manner, from the viewpoint of ensuring the stability and efficiency of the overall payment and settlement systems.

Also, to help the BOJ with this process, Kuroda revealed that the central bank is “drawing on the wisdom of various stakeholders both at home and abroad.”

Feasibility of Launching a CBDC

Kuroda’s latest remarks concerning the BOJ’s intention to launch a CBDC, however, come just a few days after the central bank said it is moving on to the next stage in testing the feasibility of a CBDC. In a recent statement, the BOJ announced the commencement of the new stage wherein it will “implement various additional functions of CBDC in the test environment developed in Phase 1.”

The statement added that during this phase 2, the BOJ will also investigate the feasibility of issuing digital currency as well as the challenges that may be encountered. Tags in this story Bank of Japan, CBDC, central bank digital currency, Haruhiko Kuroda, settlement system

What are your thoughts on this story? Tell us what you think in the comments section below. Terence Zimwara

Terence Zimwara is a Zimbabwe award-winning journalist, author and writer. He has written extensively about the economic troubles of some African countries as well as how digital currencies can provide Africans with an escape route. Robert Kiyosaki Warns US Dollar "About to Implode" — Advises Buying Bitcoin, Ethereum, Solana FEATURED | 2 days ago Elon Musk Giving "Serious Thought" to Creating Social Media Platform With Free Speech as Top Priority FEATURED | 4 days ago

Image Credits: Shutterstock, Pixabay, Wiki Commons, CAPTAINHOOK Previous articleBitcoin, Ethereum Technical Analysis: ETH Remains Above $3,400 Despite Bullish Momentum Slowing Next articleVeChain Partners Alchemy Pay for Fiat Payment Rails and Crypto on-Ramps Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article. Read disclaimerShow comments More Popular NewsIn Case You Missed ItAnonymous Claims It Has Released 28GB of Bank of Russia Documents

Hacking group Anonymous has reportedly published a large amount of data allegedly belonging to the Bank of Russia. The release comes after the collective announced it had hacked Russia’s central bank earlier this week, a claim that was denied by ... read more.Parliament Member Says 1% TDS Will Kill Crypto Asset Class in India, Urges Government to Reconsider US Senators Working on Broad-Based Crypto Regulation Elon Musk Giving "Serious Thought" to Creating Social Media Platform With Free Speech as Top Priority NFT Sales Slid Lower This Week, Cronos NFT Volume Jumps 236% Higher, Azuki Collection Rises