Japan: Announced launch of CBDC pilot project

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Description

Announced launch of CBDC pilot project

On 17 February 2023, the Bank of Japan announced the launch of a pilot project for a Central Bank Digital Currency (CBDC) which will take place in April 2023. The project aims to test the technical feasibility of interlinking various systems and incorporating the skills and insights of private businesses in the design of a CBDC ecosystem.

Original source

Scope

Policy Area

Authorisation, registration and licensing

Policy Instrument

Authorisation of goods or services

Regulated Economic Activity

digital payment provider (incl. cryptocurrencies)

Implementation Level

national

Government Branch

executive

Government Body

central bank

Complete timeline of this policy change

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2022-05-26

concluded

On 26 May 2022, the Bank of Japan published the Results and Findings from “Proof of Concept Phase 1…

2023-02-17

under deliberation

On 17 February 2023, the Bank of Japan announced the launch of a pilot project for a Central Bank D…

2023-05-29

concluded

On 29 May 2023, the Bank of Japan published the Results and Findings from “Proof of Concept Phase 2…