TOKYO (Reuters) – The Bank of Japan on Friday appointed its top economist as head of a department overseeing research on central bank digital currencies (CBDCs), as it steps up efforts to keep pace with a global drive towards embracing financial innovation.
Kazushige Kamiyama will head the BOJ’s payments and settlement department, which has conducted joint research with other central banks on CBDCs and looked into how the growing presence of crypto-currencies could affect central banking.
The appointment comes at a time the BOJ is shifting away from its caution over the idea of issuing its own digital currency in the future.
It has recently set up a task force focusing on CBDC research and is seeking private-sector expertise to better understand the evolution of digital currencies.
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