According to Reuters on Friday (July 31, 2020), the Bank of Japan (BoJ) selected Kazushige Kamiyama, the bank’s top economist, to head the payments and settlement department. The department in collaboration with 6 other banks, is carrying out research efforts regarding CBDCs.
Kamiyama’s appointment comes on the heels of recent reports that the BoJ has decided to make digital currency research a “top priority”. Also, the Japanese central bank set up a new team to accelerate research into modalities and implications for issuing a digital yen.
Furthermore, the government is also looking at including digital currency in its 2020 economic plan. Meanwhile, the latest developments from Japan’s apex bank concerning CBDCs signal a different turn from the bank’s initial cautious attitude.