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28 July 2021

Japan to reportedly take action to scrutinize crypto globally

Japan to reportedly take action to scrutinize crypto globally


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Tokyo is willing to engage with global financial regulators to develop stricter rules for private digital currencies, three Japanese officials reportedly said, adding that G7 and the G20 group regulators have called for greater regulations for fiat-pegged stablecoins.

Global central banks have been specifically pushing central bank digital currencies (CBDCs), digital versions of national fiat currencies, to maintain control over money

Last week, People’s Bank of China deputy governor Fan Yifei argued that the rapid development of private payment systems is “very alarming,” warning that stablecoins pose a serious threat to global financial and settlement systems.

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cointelegraph.com
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