The first phase of Japan’s CBDC pilots will have been completed by March 2022, the central bank states.
Japan is an island nation in East Asia. It is the tenth-largest country in the world by population and has the third- and fourth-largest economy by nominal GDP and purchasing power parity, respectively. Japan has been interested in Bitcoin and blockchain technology developments from the beginning, so the country has become the place of origin for several of the largest Japan Bitcoin exchange platforms, which have expanded to the international level with a wide range of virtual currencies available. Despite serious cyberattacks, the authorities have continued to raise a lot of capital for the popularization of digital currencies. The government considers Japan cryptocurrency legislation as a way to attract international investors from countries where cryptocurrency is banned and, through that, to strengthen the national economy.
Japan has been a member of the FATF since 1990.4020
Sumitomo Mitsui has partnered with Securitize to launch Japan’s first security token that complies with the country’s Financial Instruments and Exchange Act.11660
Asia’s largest economies are pushing forward with their respective CBDC trials, with six Chinese banks offering digital wallets and Japan establishing a new committee.7224
The mining subsidiary of Japanese financial conglomerate SBI Holdings is opening its pool services to institutional and retail customers alike.8338
In fresh remarks, Bank of Japan Governor Kuroda Haruhiko said that experiments with a domestic central bank digital currency will begin in spring 2021.5327
SBI Holdings subsidiary Morningstar started its XRP shareholder benefits in 2019.14344
Japanese retail giant Rakuten has integrated its crypto wallet with its payment app, enabling consumers to directly load and convert their Bitcoin holdings for use in everyday spending.11722
Mt. Gox creditors will vote on a proposed draft compensation plan in October.5098
Will they or won't they happen? Amid debates over how safe the Olympic games can be in 2021, cryptocurrency traders can now bet on the likelihood of their eventual go-ahead.3602
Statista has found that one-in-three Nigerians held or used crypto assets during 2020.17439
SBI Holdings is reportedly considering mergers and acquisitions as a means of solidifying a potential deal.16466
Average gas fees hit a new all-time high of $17.5 per transaction on Feb. 3, triggering some exchanges to halt Ether and ERC-20 withdrawals.23013
After launching its crypto lending service in late 2020, SBI has now added support for XRP.17837
The Coincheck crypto exchange will list Chiliz and Socios' non-fungible tokens on its new NFT marketplace.11111