Japan’s Ministry of Finance plans to increase the number of staff working towards issuing a central bank digital currency (CBDC).
After the collapse of Terra, governments took steps to protect investors, and another move came from Japan. The Japanese parliament had approved the bill that brought a legal framework for stablecoins, and it was stated that the law would come into effect within 1 year. Not far from cryptocurrencies, Japan’s Ministry of Finance is also taking a new step on CBDC.
Japan Takes a New Step in the Field of CBDC
According to a document obtained by Reuters, Japan’s Ministry of Finance aims to increase the number of staff involved in the work to issue a central bank digital currency (CBDC).
The document also stated that the ministry will request funds for a staff increase in state budget requests for the next fiscal year.
The move, which will be the second year in a row, underscores the emphasis placed on Tokyo’s crypto-friendly floor should Japan issue a CBDC.
The latest news about the crypto industry from Japan came when Fukuoka Mayor Soichiro Takashima and his team visited Ripple headquarters.
