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.
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.
The full article is available at https://www.reuters.com/article/us-japan-economy-digital/japan-ruling-party-lawmakers-urge-government-to-issue-digital-currency-idUSKBN2010EK