Japan Might Be Considering A Digital Currency.

Japan might be considering a digital currency.

While Japan used to be very strict against cryptocurrencies they now released a report on cryptocurrency.

The report might not be reflective of the opinion of the Japanese government it is certainly a great indicator.
In the report they also talk about if the country can actually use a digital currency, if its allowed, and if its a viable alternative.
Right now the main challenge is current laws requiring that money is backed by banknotes, or cash.
For adoption these laws have to change.
Another big issue is money laundering issues. For most cryptocurrency adopters this is a non-issue, but with current news it makes sense to explore this problem.

While this is certainly good news, it doesn’t hold a candle against China rapidly developing their own currency as of now.

 

 

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