Japanese Government, Central Bank Readying CBDC Legislation

Japan is nearing the launch of its CBDC, the digital yen, with the government and reserve bank laying the legal foundation for a rollout.

Neither the Bank of Japan (BoJ) neither the government has actually yet formally dedicated to a CBDC launch.

However, the BoJ has just recently sped up the development of its digital yen, obviously worried by the price of China’s CBDC progress.

Per NHK, the Japanese government and the Bank of Japan this month held their initial conference on the CBDC’s “system design.”

The events supposedly gone over “future points of contention” and went over a variety of CBDC- associated “legal issues.”

Tokyo shows up eager to construct the lawful structure for an electronic yen launch well in advance of a rollout, to prevent lawful barriers even more down the line.

The …