Bank Of Japan: Central Bank Digital Currencies Could Destabilize Existing Financial System


The Bank of Japan’s (BOJ) deputy governor spoke negatively about the effects of central bank‐issued digital currencies (CBDC) on the current financial system in closing remarks at a fintech conference, published yesterday, April 16.

In his remarks, Deputy Governor Masayoshi Amamiya stated that while central bank‐issued digital currencies (CBDC) could have a negative impact on the current financial system, the bank is open in the future to applying emerging economical technologies like crypto. The conference was held jointly by the International Monetary Fund (IMF), Japan’s Financial Services Agency, and the Bank of Japan.

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