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Japan Increasing Efforts to Regulate Digital Currency: Report

The move is a sign of increasing concern that new forms of private money could disrupt Japan's financial system.

Updated Sep 14, 2021, 1:26 p.m. Published Jul 16, 2021, 6:13 a.m.

Japan's Financial Services Agency has created a division to oversee "decentralized finance" and the Ministry of Finance is mulling boosting the number of staff focusing on digital currencies, Reuters reported on Friday, citing three officials it didn't identify.

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The move is a sign of increasing concern that new forms of private money could disrupt Japan's financial system, according to the report.
Regulation would complement the Bank of Japan's efforts on the central bank's digital yen.

Japan Regulations Cryptocurrency Regulation CBDCs DeFi

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