Japanese authorities collaborate to advance digital currency research

Quick Take

  • Japan’s Ministry of Finance, the Financial Services Agency and the central bank are said to have joined forces to promote research on digital currencies
  • Officials from the three agencies recently discussed how digital currencies might impact the global currency system 

Three Japanese authorities - the Ministry of Finance, the Financial Services Agency (FSA) and the Bank of Japan (BOJ) - are said to have joined forces to promote research on digital currencies.

The agencies have held several meetings to discuss the economic impacts of digital currencies, the Japan Times reported Saturday, citing JIJI Press. Their most recent meeting reportedly took place last month.

The meeting brought together Yoshiki Takeuchi, vice minister of finance for international affairs; Ryozo Himino, FSA vice minister for international affairs; and Shinichi Uchida, BOJ executive director for international affairs, per the report.

The three officials are said to have discussed how digital currencies might impact the global currency system, which is dominated by the U.S. dollar, as well as other issues.

“We are advancing research and study from the technical and legal perspectives so that we will be able to move in an appropriate way when there is a growing need,” BOJ Governor Haruhiko Kuroda was quoted as saying in the report.

Digital yen research efforts 

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