Japan reportedly working on a proposal to issue a national digital currency

[Bossfidelity]

It's a welcome development for cryptocurrency industry and have the tendency to increase the level of awareness about the digital currency industry. I have the conviction that before long, more countries would join Japan in the establishment of national digital currency.

[BlackFor3st]

Ruling party lawmakers in Japan are reportedly working on a proposal to issue a national digital currency, Reuters reports on Jan. 24. This appears to be a response to fears of a Chinese digital yuan.

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This only means that they fully welcome the future of digital payment s and they are already preparing for it by proposing a national digital currency. I cannot say that it is a good news for crypto lovers or not as it only means that they are avoiding the existence of crypto currencies and they want to create a currencies that they have a controlled over it.

But right now, I guess it will hype the crypto prices as of the moment as many will surely dig about digital currency upon reading this news .

[Ozero]

I would even be surprised if Japan did not work on the issue of its national stable coin. Now many states plan to issue their own national stable coin. Many governments are trying to use blockchain technology, in addition, they are thus trying to distract their population from the growing interest in a decentralized cryptocurrency. Although the Japanese government has always been friendly to decentralized cryptocurrencies, the interests of the state are above that. In addition, the use of one's own stable coin will also be useful for the economy of any state. Japan simply does not want to stay away from this process.