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Bank of Japan executive director Shinichi Uchida on Friday said the BOJ does not plan to issue a central bank digital currency, but must consider how to build related digital payment and settlement systems.
"If a CBDC is not to be issued, we need to consider how to build payment and settlement systems suitable for a society that is becoming increasingly digital. In either case, maintaining the status quo is not an option," Uchida said, at the second meeting of the Liaison and Coordination Committee on Central Bank Digital Currency (CBDC).
Uchida added that "not issuing a CBDC" is a big decision as other central banks explore the potential for CBDC use.