Digital Yen in Its Final Phase: What Does this Mean for Crypto?
Published in
Feb 22, 2023
Managing Director of the International Monetary Fund (IMF) Kristalina Georgieva stated: “Crypto assets and stablecoins are no match for well-designed central bank digital currencies (CBDCs). If CBDCs are designed prudently, they can potentially offer more resilience, more safety, greater availability, and lower costs than private forms of digital money.”
Having understood the preceding statement made by Georgieva, the Bank of Japan (BOJ) has decided to launch a pilot program to test the use of a digital yen in the backdrop of nearly 100 countries testing the adoption of CBDC.
