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Japan ruling party panel aims to put digital yen on government’s mid-year policy – Source Reuters Tech News

TOKYO (Reuters) – Japan should create its own yen digital currency, hopefully “within two to three years”, and include such plan in government’s mid-year key policy guidelines, a senior ruling party lawmaker said on Monday.

FILE PHOTO: Japan’s State Minister in charge of vitalizing local economies Kozo Yamamoto speaks in Tokyo, Japan, August 3, 2016. REUTERS/Kim Kyung-Hoon/File Photo

Kozo Yamamoto, who heads research commission on the finance and banking systems at the Liberal Democratic Party (LDP), made the remark as Facebook’s (FB.O) push to launch its Libra cryptocurrency has raised questions over whether nation states will continue to control money in future.

His comment followed similar proposals from another group of lawmakers, led by ruling party heavyweight and former economy minister Akira Amari, who wants to issue digital yen to counter China’s move toward issuing its own digital currency.

“The sooner the better. We’ll draft proposals to be included in…

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Source Reuters Tech News

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