The Ministry of Finance will hold an expert conference on April 21 to review the Bank of Japan’s digital yen pilot program, which began this month.
The nine experts—academics, economists, lawyers, and consumer group representatives—will meet weekly and write a report by year’s end.
To modernize financial institutions and enable domestic and cross-border payments, central banks have raced to develop digital currencies.
The BOJ has indicated the trial program may span several years, and Japan has not determined whether to launch a central bank digital currency (CBDC).
“We understand the BOJ’s study is making steady headway,” a finance ministry official told reporters. “However, we have not at all decided on whether Japan will issue a CBDC.”
BOJ and FSA observers will attend panel sessions.
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