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Kazuhiro Kamiyama, a senior official at the Bank of Japan, stated on Wednesday that Japan does not currently have any plans to introduce a central bank digital currency. However, in light of the societal shift towards cashless transactions, he underscored the importance of continuous innovation in payment and settlement systems. Kamiyama noted that while banknote circulation in Japan remains high, the rapid advancement of digitization could potentially lead to a significant decline in their use. During a meeting with private sector entities to discuss a pilot project for a digital yen, Kamiyama emphasized that, despite the absence of immediate issuance plans, the central bank is committed to enhancing the security and efficiency of payment and settlement systems.
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