BOJ's Kuroda Says Central Bank Will Start CBDC Experiments in Spring: Report

Bank of Japan Governor Haruhiko Kuroda said Monday the central bank will begin experiments on a digital yen in the spring.

Oct 12, 2020 at 1:53 p.m. UTC
Updated Sep 14, 2021 at 10:07 a.m. UTC

Bank of Japan Governor Haruhiko Kuroda said Monday the central bank will begin experiments on a central bank digital currency (CBDC) in the spring, Reuters reported.

  • The experiments will seek to determine requirements and principles for the issuance of a potential digital yen.
  • Kuroda also made clear his preparedness to impose added monetary easing steps, saying the BOJ still has tools at its disposal to fight the economic effects of the pandemic.
  • Last week, South Korea's central bank said it will run trials of a CBDC during 2021, though it hasn't decided if a launch will follow.
  • China's digital yuan is already in extensive testing, with the deputy governor of the People's Bank calling this weekend for its launch to be accelerated.
The Festival for the Decentralized World
Thursday - Sunday, June 9-12, 2022
Austin, Texas
Save a Seat Now

DISCLOSURE

Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated.

The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups. As part of their compensation, certain CoinDesk employees, including editorial employees, may receive exposure to DCG equity in the form of stock appreciation rights, which vest over a multi-year period. CoinDesk journalists are not allowed to purchase stock outright in DCG.

Trending

1
US Agencies Warn of Attempts by North Koreans to Get IT Jobs While Concealing Nationality

In many cases, these workers say they are U.S.-based and not North Korean teleworkers, and they often take on virtual currency projects.

In many cases, these workers say they are U.S.-based and not North Korean teleworkers, and they often take on virtual currency projects.

2
Oasis Pro Raises $27M for Crypto Securities Trading Platform

CEO Pat LaVecchia, a former MakerDAO compliance adviser, said Oasis Pro is in the “early stages” of integrating with DeFi platforms.

CEO Pat LaVecchia, a former MakerDAO compliance adviser, said Oasis Pro is in the “early stages” of integrating with DeFi platforms.

3
UST Won't Be the End of Algorithmic Stablecoins

The trail for a monetary "Holy Grail" continues, despite Terra’s collapse. So what do we do about it?

The trail for a monetary "Holy Grail" continues, despite Terra’s collapse. So what do we do about it?

4
Crypto News Roundup for May 16, 2022

With crypto markets continuing to slump and a look what a recent bill on crypto mining might mean for New York’s economy, CoinDesk’s Markets Daily is back with the latest news roundup.

With crypto markets continuing to slump and a look what a recent bill on crypto mining might mean for New York’s economy, CoinDesk’s Markets Daily is back with the latest news roundup.