TOKYO (Reuters) – Japan should prepare to issue digital currencies and propose bringing up the topic at this year’s G7 meetings to counter China’s move toward issuing a digital yuan, a group of ruling party lawmakers said on Friday.
FILE PHOTO: Akira Amari, Japan’s Minister for Economic Revitalization and Minister for Economic and Fiscal Policy, addresses the session ‘Japan’s Future Economy’ during the annual meeting of the World Economic Forum (WEF) in Davos, Switzerland January 23, 2016. REUTERS/Ruben Sprich/File Photo
The group will present the proposal to the government next week, its leader Akira Amari, a Liberal Democratic Party (LDP) heavyweight and former economy minister, told reporters.
While Japan is unlikely to issue a digital currency any time soon due to technical and legal hurdles, the move underscores growing pressure Tokyo is feeling in keeping pace with advances China has made toward issuing a digital yuan.
Japan should liaise with the United States to share…
Source Reuters Tech News
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