• Latest
Fearing ‘Currency Struggle,’ Japanese Politicians Want G7 Response to China’s Digital Yuan

Fearing ‘Currency Struggle,’ Japanese Politicians Want G7 Response to China’s Digital Yuan

February 7, 2020
ygg sea surpasses 10,000 scholarships in just six months of launch

YGG SEA Surpasses 10,000 Scholarships in Just Six Months of Launch

May 6, 2022
mintable launches industry changing gas free minting service on ethereum

Mintable Launches Industry Changing Gas Free Minting Service on Ethereum

May 1, 2022
5 projects enabling smart contract development on bitcoin

5 Projects Enabling Smart Contract Development on Bitcoin

April 29, 2022
bitcoin atm installed in mexico's senate building

Bitcoin ATM installed in Mexico’s Senate Building

April 27, 2022
cross chain services play a crucial role in facilitating continued adoption of defi applications

Cross-Chain Services Play a Crucial Role in Facilitating Continued Adoption of DeFi Applications

April 26, 2022
justin sun launches usdd, integrating the blockchain world and the real world with the decentralized stablecoin

Justin Sun Launches USDD, Integrating the Blockchain World and the Real World with the Decentralized Stablecoin

April 25, 2022
nfts: the next musical revolution

NFTs: The Next Musical Revolution

April 24, 2022
things you should know before investing in nfts

Things You Should Know Before Investing in NFTs

April 24, 2022
what are wrapped tokens?

What Are Wrapped Tokens?

April 23, 2022
what is the future of ethereum (eth)?

What is the future of Ethereum (ETH)?

April 22, 2022
green gaming

Everything You Need to Know About Play-to-Earn on Algorand in 2022

April 21, 2022
$ape going bananas as rumors of upcoming land sale of bayc metaverse gather momentum

$APE Going Bananas As Rumors of Upcoming Land Sale of BAYC Metaverse Gather Momentum

April 21, 2022
  • Home
  • Coin Market Cap
  • Bitcoin
  • Ethereum
  • Ripple
  • Litecoin
  • Alt Coin
  • Business
  • Trading
  • Mining
CoinNewsDaily
  • Home
  • Coin Market Cap
  • Bitcoin
  • Ethereum
  • Ripple
  • Litecoin
  • Alt Coin
  • Business
  • Trading
  • Mining
No Result
View All Result
  • Home
  • Coin Market Cap
  • Bitcoin
  • Ethereum
  • Ripple
  • Litecoin
  • Alt Coin
  • Business
  • Trading
  • Mining
No Result
View All Result
CoinNewsDaily
No Result
View All Result
Home Tech

Fearing ‘Currency Struggle,’ Japanese Politicians Want G7 Response to China’s Digital Yuan

coinnewsdaily by coinnewsdaily
February 7, 2020
in Tech
0
Fearing ‘Currency Struggle,’ Japanese Politicians Want G7 Response to China’s Digital Yuan
189
SHARES
1.5k
VIEWS
Share on FacebookShare on Twitter

Related articles

ygg sea surpasses 10,000 scholarships in just six months of launch

YGG SEA Surpasses 10,000 Scholarships in Just Six Months of Launch

May 6, 2022
5 projects enabling smart contract development on bitcoin

5 Projects Enabling Smart Contract Development on Bitcoin

April 29, 2022

Japanese politicians are calling on G7 members to respond to China’s digital yuan by collaborating on digital currency research.

Senior politicians from the ruling Liberal Democratic Party (LDP), led by former economy minister Akira Amari, told reporters Friday that Japan should share information and technical studies with the U.S. and other G7 members in order to respond to China’s digital yuan initiative, which could pose a serious challenge to the greenback’s global supremacy, Reuters reports.

“We live in a stable world led by dollar settlement. How should we respond if such a foundation collapses and if [China’s move] gives rise to a struggle for currency supremacy?” Amari said. As this year’s G7 chair, the U.S. should include digital currency on the agenda for the next meeting of the group, he added

A formal proposal calling for greater cooperation with the G7 on the matter of digital currencies will be officially presented to the government next week, the group confirmed. The G7 are expected to meet in Maryland this coming June.

Japan, like many other countries, relies heavily on a dollar-denominated settlement system that allows its banks and businesses to transact all around the world. Some fear that the Japanese economy could face significant disruption should developing nations begin using the digital yuan instead of the greenback.

On Wednesday, a Federal Reserve governor said the U.S. central bank was “conducting research and experimentation” into digital currencies so it can properly evaluate risks and benefits. It would also allow the U.S. to lead in the matter, the governor added. Fed officials are said to be concerned by private initiatives like Libra and the effects they could have on the global financial system.

The LDP group of lawmakers said in late January that it would propose that Japan issue its own digital currency in a joint project between the government and the private sector.

Last month, the Bank of Japan formed a working group along with five other central banks, including the U.K. and the EU, to coordinate and share research into digital currencies. The group will reportedly have its first meeting in Washington D.C. during the International Monetary Fund (IMF) conference in mid-April.

During Friday’s press conference, lawmakers argued Japan should prepare to issue its own digital yen. No further announcements have been made on the initiative, but considering the technical and legal barriers likely involved, Japan is not expected to release a digital yen anytime soon.

Disclosure Read More

The leader in blockchain news, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups.

Credit: Source link

Tags: Crypto Tech
Share76Tweet47
Previous Post

Bitcoin Has Erased Over 45% of 2019 Sell-Off in Just 7 Weeks

Next Post

Proposes “Safe Harbor” Period for Crypto Token Sales in U.S.

coinnewsdaily

coinnewsdaily

CoinNewsDaily.com is an online Crypto Coin News Website that aims to provide latest trendy news from market and around the world.

Related Posts

ygg sea surpasses 10,000 scholarships in just six months of launch
Alt Coin

YGG SEA Surpasses 10,000 Scholarships in Just Six Months of Launch

May 6, 2022
5 projects enabling smart contract development on bitcoin
Alt Coin

5 Projects Enabling Smart Contract Development on Bitcoin

April 29, 2022
bitcoin atm installed in mexico's senate building
Bitcoin

Bitcoin ATM installed in Mexico’s Senate Building

April 27, 2022
cross chain services play a crucial role in facilitating continued adoption of defi applications
Alt Coin

Cross-Chain Services Play a Crucial Role in Facilitating Continued Adoption of DeFi Applications

April 26, 2022
green gaming
Business

Everything You Need to Know About Play-to-Earn on Algorand in 2022

April 21, 2022
axie infinity: what are the minimum android phone requirements to play on mobile
Alt Coin

Axie Infinity: What Are the Minimum Android Phone Requirements to Play on Mobile

April 21, 2022
Load More
Next Post
Proposes “Safe Harbor” Period for Crypto Token Sales in U.S.

Proposes "Safe Harbor" Period for Crypto Token Sales in U.S.

Categories

  • Alt Coin
  • Bitcoin
  • Business
  • Ethereum
  • ICO
  • Litecoin
  • Mining
  • NFT
  • Ripple
  • Tech
  • Trading

What New here?

  • YGG SEA Surpasses 10,000 Scholarships in Just Six Months of Launch
  • Mintable Launches Industry Changing Gas Free Minting Service on Ethereum
  • 5 Projects Enabling Smart Contract Development on Bitcoin

Subscribe to Get More!

Loading
  • About Us
  • Contact Us
  • Privacy & Policy

© 2018-2021 CoinNewsDaily.com by CoinNewsDaily Inc. Crafted with Love by iFtiDev

No Result
View All Result
  • Home
  • Coin Market Cap
  • Bitcoin
  • Ethereum
  • Ripple
  • Litecoin
  • Alt Coin
  • Business
  • Trading
  • Mining

© 2018-2021 CoinNewsDaily.com by CoinNewsDaily Inc. Crafted with Love by iFtiDev

  • bitcoinBitcoin(BTC)$21,378.000.58%
  • ethereumEthereum(ETH)$1,241.672.56%
  • tetherTether(USDT)$1.00-0.11%
  • binancecoinBNB(BNB)$239.841.40%
  • rippleXRP(XRP)$0.3687031.71%
  • cardanoCardano(ADA)$0.513.16%
  • SolanaSolana(SOL)$41.231.70%
  • dogecoinDogecoin(DOGE)$0.0741979.34%
  • polkadotPolkadot(DOT)$8.202.36%
  • Shiba InuShiba Inu(SHIB)$0.000012-1.69%
  • daiDai(DAI)$1.00-0.15%
  • tronTRON(TRX)$0.0657031.58%
  • leo-tokenLEO Token(LEO)$5.89-0.01%
  • matic-networkPolygon(MATIC)$0.600.76%
  • litecoinLitecoin(LTC)$58.74-0.27%
  • FTXFTX(FTT)$27.911.48%
  • chainlinkChainlink(LINK)$7.172.39%
  • OKBOKB(OKB)$12.79-3.20%
  • CronosCronos(CRO)$0.1284211.54%
  • stellarStellar(XLM)$0.124474-0.96%
  • cosmosCosmos Hub(ATOM)$8.560.83%
  • ethereum-classicEthereum Classic(ETC)$17.779.14%
  • moneroMonero(XMR)$132.396.16%
  • algorandAlgorand(ALGO)$0.346381-0.06%
  • bitcoin-cashBitcoin Cash(BCH)$117.272.89%
  • vechainVeChain(VET)$0.025445-1.74%
  • Internet ComputerInternet Computer(ICP)$6.04-0.86%
  • theta-tokenTheta Network(THETA)$1.42-2.43%
  • tezosTezos(XTZ)$1.531.22%
  • filecoinFilecoin(FIL)$6.070.78%
  • ElrondElrond(EGLD)$58.92-4.84%
  • bitcoin-cash-svBitcoin SV(BSV)$63.22-0.90%
  • eosEOS(EOS)$1.032.89%
  • AaveAave(AAVE)$69.34-0.15%
  • makerMaker(MKR)$1,053.473.44%
  • paxos-standardPax Dollar(USDP)$1.00-0.17%
  • zcashZcash(ZEC)$67.531.14%
  • iotaIOTA(MIOTA)$0.297003-1.43%
  • huobi-tokenHuobi(HT)$5.32-3.12%
  • neoNEO(NEO)$9.994.07%
  • zilliqaZilliqa(ZIL)$0.048353-1.10%
  • havvenSynthetix Network(SNX)$2.79-2.44%
  • wavesWaves(WAVES)$6.21-2.85%
  • basic-attention-tokenBasic Attention(BAT)$0.413192-1.35%
  • dashDash(DASH)$51.730.57%
  • PancakeSwapPancakeSwap(CAKE)$3.413.10%
  • KusamaKusama(KSM)$55.35-1.76%
  • nemNEM(XEM)$0.0429551.26%
  • CompoundCompound(COMP)$53.295.25%
  • Elrond ERDElrond ERD(ERD)$0.0259290.00%
  • qtumQtum(QTUM)$3.110.53%
  • ethlendAave [OLD](LEND)$4.103.48%
  • bitcoin-goldBitcoin Gold(BTG)$17.952.41%
  • omisegoOMG Network(OMG)$2.000.26%
  • golemGolem(GLM)$0.248137-0.71%
  • SushiSushi(SUSHI)$1.22-2.14%
  • yearn-financeyearn.finance(YFI)$6,834.652.23%
  • ontologyOntology(ONT)$0.243752-0.09%
  • umaUMA(UMA)$2.800.45%
  • digibyteDigiByte(DGB)$0.010860-2.43%
  • UniswapUniswap(UNI)$2.4438.80%
Posting....