Hideki Murai: “We will form the principles of the digital yen by the end 2022 of the year" – Bits Media

Political figure, Leader of the Digital Currency Research Group in Japan's ruling party, said, that by the end of next year, lawmakers will form the principles of the digital yen.

Hideki Murai (Hideki Murai) from the Liberal Democratic Party of Japan said, what to the end 2022 year lawmakers will receive a “more clear idea” about that, What should be the state cryptocurrency of Japan.

According to him, Although lawmakers do not plan to make a decision on the issue of state cryptocurrency in the near future, More information about its structure can cause disputes about, as the release of digital yena is able to influence financial institutions.

The financial industry of Japan is already undergoing large -scale changes, Since non-banking credit organizations from retail enterprises begin to offer various tools for online calculations, Thus affecting the market of commercial banks.

As Murai notes, if state cryptocurrency is designed in this way, so that commercial banks become key intermediaries, This will contribute to the return of business and settlements to banks.

“If the Bank of Japan releases state cryptocurrency, This will have a huge impact on financial institutions and the calculation system of Japan ", - said Murai. “Digital Ian can fully transform the changes, taking place in the financial industry of Japan ".

Murai also said, that the Bank of Japan should ensure the compatibility of digital yen with state cryptocurrencies of other developed countries, partly to resist the progress of China in the release of digital yuan. The Japanese Bank is part of a group of seven large central banks, jointly studying the main characteristics of state cryptocurrencies.

“If digital yuan becomes so convenient, that tourists will often use it, or will become the main tool for calculations in trade, The ratio between Ian and Yuan can change and undermine the status of Ien as a currency-refuge ", - said Murai.

Recall, that in April, the Central Bank of Japan has launched testing the concept of concept (PoC) For state cryptocurrency. This testing stage will last until March 2022 of the year. In the same month, the Japanese Bank called for the creation of general rules for the release of state cryptocurrencies.