RATE Group | Another Competitor To Libra Might Come From Japan + More News
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Another Competitor To Libra Might Come From Japan + More News

24 Jan Another Competitor To Libra Might Come From Japan + More News

Posted at 13:38h in Cryptocurrency News by

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Another Competitor To Libra Might Come From Japan + More News 101
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Crypto Briefs is your daily, bite-sized digest of cryptocurrency and blockchain-related news – investigating the stories flying under the radar of today’s crypto news.

Digital fiat news

  • A group of about 70 Liberal Democratic Party lawmakers in Japan are working on a proposal for the county to issue its own digital currency – digital yen. Reuters reports, citing Norihiro Nakayama, parliamentary vice-minister for foreign affairs, that the digital currency could be a joint initiative between the government and private companies that would put Japan in tune with global changes in financial technology. This comes as a response to the worries caused by Facebook’s Libra and China’s digital yuan, and after the Bank of Japan joined six other central banks on assessing potential cases for central bank digital currencies (CBDC). The group, led by the former economy minister Akira Amari, plans to submit its proposal to the government as early as next month.

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