BOJ Rules out Digital Fiat, But Cambodia Could Issue a CBDC Next Year

The governor of the Bank of Japan (BOJ) Haruhiko Kuroda has ruled out the possibility of launching a digital yen in the short term, but says the bank will continue to look into digital currency technology should the bank change its stance at a later date.

Per media outlet CoinPost, Kuroda also issued a warning about stablecoins (which are currently legal in Japan). The governor stated that stablecoins should only be issued if operators have an organizational structure in place to provide adequate risk management.

Kuroda, who has previously spoken about his “interest” in projects such as Facebook’s Libra, stated that regulators should “carefully consider” companies with large customer bases issuing international stablecoins. Kuroda said that global stablecoins could have a significant impact on monetary policy and the stability of the financial system.

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