Japan abandoned the idea of launching national cryptocurrency

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Deputy Central Bank of the country said that the government sees no point in abandoning Fiat currency

National cryptocurrencies are not able to increase the effectiveness of monetary policy, Deputy Bank of Japan Governor Masayoshi Amamiya, writes The New York Times.The specialist said that digital currency can work only if Central banks will get rid of Fiat.

“Currently, the Central Bank has no plans to get rid of cash. Scriptactive are not used for everyday payments and settlements, by and large it is a speculative investment,” said Amamiya.

Earlier plans to create a national cryptocurrency said the government of Iran. Thus the authorities hope to get out from under the pressure of us sanctions.

More news on cryptocurrency can be found in our telegram channel RBC-Crypto.

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