Japan will have a clearer view of what its digital currency would look like by next year, said Hideki Murai. But for now they are unclear about the issuance of CBDC. They are still studying and researching the possible effect on their financial institutions. The country is one of seven major central banks looking into core features of CBDCs.
BOJ or Bank of Japan have to ensure that their CBDC is compatible and in line with other nations' CBDCs to counter China’s Digital Yuan, said Murai. Japan has not made any decision on whether the CBDC will be issued or not by the end of 2022.
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