The Bank of Japan (BOJ) said it has launched a liaison and coordination committee as it experiments with a central bank digital currency (CBDC).
In a statement, the BOJ said the committee's first meeting was being held on Friday. It stressed there are no plans to issue a CBDC at present but the bank will begin with an “initial experiment” or proof of concept phase, which is scheduled to begin in April.
Through the newly launched committee, the BOJ said it will update the private sector and policymakers and seek input on the next steps.
In contrast, China’s plan to issue its own digital yuan has been firmly established, with the project in the public trial stages.
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