Bank of Japan: the economy does not need cryptocurrencies of central banks

The Deputy Head of the Bank of Japan (BOJ) Masajashi Amamia expressed its negative attitude towards the digital currencies of the central banks, saying that they would not be able to improve existing monetary systems or displace cash.

Formerly, representatives of the Japanese Central Bank investigated the possibility of launching the CCD in the future. However, at a meeting to Nagoy Masayshi Amamia stated that this option was no longer considered anymore. According to him, such tools are economically ineffective, and while the state does not completely eliminate fate money, the Central Bank will not be able to overcome the zero lower border at nominal interest rates.

Deputy Chapter Boj said that the getting rid of Fiat is not an option now, since in Japan cash is still a popular way of payments. After adding that the transition from traditional monetary signs to cryptvalute is associated with huge difficulties, since virtual assets are strongly susceptible to speculation and unstable.

The negative attitude of the Bank of Japan to the CCSB does not prevent the Tax Committee to discuss the issue of simplifying the procedure for declaring the virtual currency and reporting.

As long as the country of the rising sun slows down his movement towards FIATA, President Venezuela