Digital yen must be as robust as cash – BoJ deputy governor
Uchida says Japanese CBDC will need to retain public trust to same degree as notes and coins
A deputy governor at the Bank of Japan has said a central bank digital currency could be critical to the country’s payment and settlement systems, but it would need to be as robust as cash.
In a speech on June 7 at the Japan Society of Monetary Economics, Shinichi Uchida said any decision on whether to issue a digital yen would need to be based on public consultation and take into consideration domestic and international developments.
He also said the CBDC should “basically be operated by the
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