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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.
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.
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- 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.
Also read: Federal Reserve, 6 Other Central Banks Set Out Core Digital Currency Principles
Kevin Reynolds
Kevin Reynolds was the editor-in-chief at CoinDesk. Prior to joining the company in mid-2020, Reynolds spent 23 years at Bloomberg, where he won two CEO awards for moving the needle for the entire company and established himself as one of the world's leading experts in real-time financial news. In addition to having done almost every job in the newsroom, Reynolds built, scaled and ran products for every asset class, including First Word, a 250-person global news/analysis service for professional clients, as well as Bloomberg's Speed Desk and the training program that all Bloomberg News hires worldwide are required to take. He also turned around several other operations, including the company's flash headlines desk and was instrumental in the turnaround of Bloomberg's BGOV unit. He shares a patent for a content management system he helped design, is a Certified Scrum Master, and a veteran of the U.S. Marine Corps. He owns bitcoin, ether, polygon and solana.
