Trading News

See all posts (71)
Mastering Trading Strategies: Diamond and Butterfly Patterns, FTMO Challenge, and Trading in the Zone Boost Your Trading Success with FTMO Challenge, Forex Funds Management, and Trading in the Zone Diamond Pattern, Butterfly Pattern, Bullish Harami and other technical analysis tools Experts Weigh In on Cryptocurrencies: Here’s What They Have to Say Comparing 401(k)s and IRAs: Which Is Right for You? Private Equity and Startup Investing Are We Experiencing the Dot-Com Bubble 2.0? Tumultuous Equities in 2022: Here’s What Experts Are Saying Market Uncertainty and the Current (Potentially) Recessionary Environment: Where Do We Head From Here? Cryptocurrency Investing Insights: The Importance of Diversification What is margin in Forex: Explaining the term in plain English Basic principles of a successful trading day Facebook's cryptocurrency project is on the brink of collapse Specifics of trading with the Keltner Channel indicator TOP recommendations for effective use of Parabolic SAR Bitcoin renews all-time high but prospects remain bleak Cryptocurrency, «Robinhood», SPAC: New investment hybrids of the Covid-19 era What is slippage in Forex and how to avoid it? What is the NFP in Forex (Non-Farm Payrolls)? BTC.TOP believes that bitcoin will reach $400,000 The best currency pairs to trade Most common mistakes in algorithmic trading Terms and conditions of employment with FTMO The coronavirus snaps an 11-year growth streak in financial markets Bitcoin may fall to $10,000, but it is too early to panic The founders of the Africrypt crypto exchange disappeared along with their users' bitcoins What is a Buy Limit order in Forex and how to use it? India may introduce a law banning cryptocurrency trading What is scalping in Forex: all the pros and cons Elon Musk's unexpected statement crashed the crypto market Who are market makers and market users? How to pass the FTMO Challenge? Japan has several reasons to issue a national cryptocurrency FTMO is the best Proprietary Trading company The Linear Regression indicator: advantages, characteristics, recommendations The FTMO Challenge: TOP 5 tips Huge electricity costs threaten the cryptocurrency industry Benefits of working for Proprietary Trading Having no trading plan is the biggest mistake of novice traders What is a sideways trend in Forex, and how to approach it? What is capital in Forex: the size and usage Successful traders always limit their losses The McClellan Oscillator: All a novice trader needs to know Top 10 tips for turning a loser into a successful trader Pros and cons of using TOP 3 volatility indicators Aspects of Forex trading at night Top 5 unforgivable intraday trading mistakes How to trade the Diamond formation About a margin in Forex in simple terms How to use the RSI indicator
Japan has several reasons to issue a national cryptocurrency
Japan has several reasons to issue a national cryptocurrency

A few days ago, Tetsuya Inoue, one of the leading experts at the Japan Research Institute and a former official representative of the Central Bank (BoJ), was interviewed. During the meeting with reporters, the expert said what he thinks about issuing a national cryptocurrency.

Tetsuya Inoue believes that Japan has many reasons for issuing its own virtual money. Such a decision could be a great breakthrough for the country since today the national currency of Japan is trusted all over the world. According to Tetsuya Inoue, even though the country's financial regulatory authority decided to postpone the issue of a fiat alternative, the department should study this issue further and assess the real prospects of the national cryptocurrency.

A change of payment infrastructure

Tetsuya Inoue noted that the Central Bank should take a more proactive approach to the matter of the cryptocurrency and not postpone everything until the next spring, since a revolution in the payment system is starting throughout the world. Digital money is part of the daily life of many people, and Japan must be the first to provide innovative financial tools.

Compared to modern digital money, fiat currencies are characterized by low competitiveness. If the country does not have in time a decent infrastructure for introducing new financial tools, it may eventually negatively affect the yen's status in the market.


Tough competition

Despite the fears of experts, national cryptocurrencies began to develop at a breakneck pace. Tetsuya Inoue claims that China is now the closest to issuing its own digital money. If you do not overtake them in this matter, there are great risks of an absolute monopoly in the financial market, since the Chinese cryptocurrency has every chance of becoming widespread.


Bank of Japan officials said they intended to test the digital currency in the next fiscal year. During the tests, they plan to determine what approach to issuing CBDCs will be the most effective in today's financial market.

At the same time, BoJ noted that the digital alternative to the yen will not compete with the fiat currency, but will simply become an addition to it. The main goal of the cryptocurrency project is to improve the efficiency of the payment and settlement system.

It is to be recalled that the Japanese authorities approved the issuance of a virtual currency early in the year. Initially, the government harshly criticized the use of a national cryptocurrency, but due to the vigorous actions of the People's Republic of China in this direction, Japan reconsidered its decision.

Still have any questions,
Get in touch with our expert
Download Our App

Our mobile application delivers the best trading experience on the go.

Get the free app today and enjoy responsive automated forex trading on your mobile phone

Get it on Google Play Get it on App Store
Start Investing
With Algofxpro
This option is not available right now.