Japan’s central bank has said that it has no plans at present to issue a central bank digital currency, citing the impact this may have on financial stability.
In closing remarks at a conference with the International Monetary Fund (IMF) and Japan’s Financial Services Agency (FSA), Masayoshi Amamiya, the Deputy Governor of the Bank of Japan (BoJ), said that in the modern currency system, which consists of a central bank and private banks, it is characterised as ‘a two-tiered system.’
Amamiya stated that:
In this two-tiered system, the central bank specializes in supplying banknotes
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