Japan steps up efforts to regulate digital currencies

Japan steps up efforts to regulate digital currencies

Japan’s Financial Services Agency has set up a unit to oversee “decentralized finance,” and the Ministry of Finance is considering increasing the number of staff focused on digital currencies, Reuters reported on Friday.

The move reflects growing concerns that new forms of private money could disrupt Japan's financial system, the report said.

Regulation would complement the Bank of Japan’s efforts on a central bank digital yen.

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