Japan ruling party panel aims to put digital yen on government's mid-year policy www.reuters.com

TOKYO (Reuters) - Japan should create its own yen digital currency, hopefully “within two to three years”, and include such plan in government’s mid-year key policy guidelines, a senior ruling party lawmaker said on Monday.
FILE PHOTO: Japan's State Minister in charge of vitalizing local economies Kozo Yamamoto speaks in Tokyo, Japan, August 3, 2016.
Japan is unlikely to issue a digital currency any time soon due to technical and legal issues, but the ongoing moves highlight pressure Tokyo feels in the face of progress China and Facebook have made on digital currencies.
Central banks across the world have quickened the pace at which they are looking at issuing central bank digital currencies (CBDCs).
The spread of digital currencies may undermine the dollar’s supremacy, but it could help stabilize emerging markets such as Cambodia, which heavily relies on the dollar, Yamamoto said.