Japan saw the benefits of CBDC for crypto market
The emergence of digital currency will contribute to the development of the cryptocurrency market, says the head of Monex Grup
Japan regulators adhere to different opinion
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The head of the well-known Japanese brokerage corporation Monex Group Inc believes that the emergence of digital currencies of central banks will accelerate the spread of cryptocurrencies
Digital currencies central banks (CBDCBills and coins may stay in the past due to a new financial instrument – central bank digital currency (CBDC). As of… More) are able to accelerate development cryptocurrency market. At least this opinions adhered to by Oki Matsumoto, executive director of the brokerage corporation Monex Group. In an interview with Reuters, he welcomed the BOJ’s plans to explore the possibility of issuing a CBDC, noting that the national digital currency will help the country move to more efficient digital economy.
“CBDCs Will Significantly Improve Cryptocurrency Interoperability. it would make market cryptocurrencies more lively “- stated Matsumoto.
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According to the head of Monex Group, now convert cryptocurrencies to traditional money quite difficult as small brokers and platforms do not have bank accounts. It is noteworthy that in 2018 Matsumoto performed in quality supporter tightening cryptocurrency market.
Then in an interview with Reuters, the head of Monex Group said that cryptocurrency exchanges in Japan should be regulated on an equal basis with banks, since they are own means investors. This statement Matsumoto made after Togo as it became known that Monex Group will become new the owner of the Japanese cryptocurrency exchange Coincheck, which was the victim of a hacker attack, losing $ 500 million in digital assets.
With the advent of CBDC, considers Matsumoto, a more loyal environment will emerge where digital currencies, cryptocurrencies and traditional money can will be easier to convert. Japan themes time increases the position of banking services on market cryptocurrencies. Previously, eg, BeInCrypto edition reported that Japanese financial conglomerate SBI Group announced the launch of the service cryptocurrency lending with a fixed rate at 1% annual.
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However, until local regulators do not share Matsumoto’s enthusiasm. So, new chapter The Japanese Financial Services Agency (FSA) Riozo Himino, who is considered a supporter of the cryptocurrency industry, is concerned about the lack of regulation in cryptocurrency trading. As a reminder, to obtain permission to conduct operations in Japan, exchanges must first obtain a license from the FSA.
What is CBDC and also who is leading in areas developing digital currency – read the special material BeInCrypto.
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