• Japan will launch a pilot program in April to test the use of its version of a central bank digital currency (CBDC) known as the digital yen.
• The move comes after more than two years of proof-of-concept experiments by the BoJ around the digital yen.
• The move also comes at a time when the BoJ is set for leadership transition, with Kazuo Ueda expected to take over the top job from Haruhiko Kuroda when his second five-year term ends in April.
Japan Launches Pilot Program for Issuing Digital Yen
The Bank of Japan (BoJ), announced on Friday that it will launch a pilot program in April to test its version of a central bank digital currency (CBDC) known as the digital yen.
Proof-of-Concept Experiments
This move follows more than two years of proof-of-concept experiments by the BoJ around the digital yen, even as China’s digital yuan continues to lead the CBDC race globally.
Leadership Transition
The announcement also comes at a time when the BoJ is set for leadership transition, with Kazuo Ueda expected to take over from Haruhiko Kuroda when his second five-year term ends in April.
FTX Japan Customers Get Their Funds Back
FTX Japan customers may be able to withdraw their funds as of mid-February, according to a blog post from Liquid by FTX, which would make them some of the first customers of the collapsed crypto exchange to get their money back.
Japanese Regulatory Framework Makes Recovery Possible
CoinDesk Executive Director of Global Content Emily Parker discusses how Japanese regulation made it possible for FTX Japan customers to get their funds back.