"Ingen plan för att utfärda CBDC" - Bank of Japans guvernör

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.

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Role of CBDC in Peoples Lives

The governor of the BOJ, Haruhiko Kuroda, recently disclosed the central banks stance on issuing a digital currency has not changedit will not issue a central bank digital currency (CBDC). The governor, however, insisted the BOJ will still continueto carefully consider the expected roles of central bank moneyin peoples 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 isdrawing on the wisdom of various stakeholders both at home and abroad.

Feasibility of Launching a CBDC

Kurodas latest remarks concerning the BOJs 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 willimplement 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.

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