Japan Skeptical on Launch of National Bitcoin Reserve
The Japanese government has expressed reservation towards adding Bitcoin to its national reserves, citing potential risks of volatility and its legal incompatibility with current foreign exchange systems.
On December 20, Prime Minister Shigeru Ishiba issued an official response to a query from Senator Satoshi Hamada of the NHK Protection Party.
Hamada had proposed the idea of converting a portion of Japan’s foreign exchange reserves into cryptocurrencies, citing similar discussions in the US and other countries.
However, the government stated that it lacks sufficient understanding of these developments abroad and emphasized that global talks on including Bitcoin in reserves are still in their early stages.
The statement also indicated that it would be challenging for the government to take a definite stance on this matter.
