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As the result of the development of the digital era and the growing influence of Bitcoin, CBDCs are being issued throughout the world,China is on the top of it, but Japan is not in the race yet.
All Said and Not Done
- Bank of Japan Executive Director Shinichi Uchida had announced that ithe BoJ will launch CBDC (digital yen) in April, there were many positive spaculations about it because Japan was serious to complete with Chinese Digital Yuan.
Not done : Japanese government and central bank do not have any plan about the issue of CBDC. So Government is stepping in with an expert panel.
Not easy in Japan as in China
The management of a CBDC includes numerous procedures; it is not a game. In contrast to China, where CBDC has been imposed through coercion, Japan's political structure allows for the independent planning of CBDC.
BRICS vs G-7 on Crypto Regulations
This time India is President of BRICS, and Japan is the President of G-7. India already started trying to understand crypto, so Japan is also trying to understand.
