Japan’s Prime Minister Shigeru Ishiba recently stated that the government does not yet have enough information to decide whether Bitcoin
“It is difficult for the government to express its views”, Ishiba said when questioned by Satoshi Hamada, a member of the House of Councilors from the Party to Protect the People from Nippon Hoso Kyokai (NHK).
Accoding to a report on December 26, Ishiba explained that Japan lacks a clear understanding of how other countries are approaching the idea of Bitcoin as part of their strategic reserves.
Did you know?
Subscribe – We publish new crypto explainer videos every week!
What is a Bitcoin Faucet? Pros & Cons Explained (With Animations)
Hamada suggested that Japan consider converting part of its foreign exchange reserves into Bitcoin, following examples set by other countries, like the United States.
Ishiba, however, pointed out that cryptocurrencies, including Bitcoin, are not currently classified as foreign exchange assets under Japan’s regulations.
While Japan takes a cautious approach, other nations are exploring ways to include Bitcoin in their reserves.
For instance, a member of the European Parliament, Sarah Knafo, is pushing back against the European Central Bank’s (ECB) digital euro plans while urging the European Union (EU) to adopt a Bitcoin reserve. Why did Knafo champion Bitcoin? Read the full story.
Having completed a Master’s degree in Economics, Politics, and Cultures of the East Asia region, Aaron has written scientific papers analyzing the differences between Western and Collective forms of capitalism in the post-World War II era.
With close to a decade of experience in the FinTech industry, Aaron understands all of the biggest issues and struggles that crypto enthusiasts face. He’s a passionate analyst who is concerned with data-driven and fact-based content, as well as that which speaks to both Web3 natives and industry newcomers.
Aaron is the go-to person for everything and anything related to digital currencies. With a huge passion for blockchain & Web3 education, Aaron strives to transform the space as we know it, and make it more approachable to complete beginners.
Aaron has been quoted by multiple established outlets, and is a published author himself. Even during his free time, he enjoys researching the market trends, and looking for the next supernova.
