The Head of Japan’s Central Bank Criticizes Bitcoin

Haruhiko Kuroda, the head of the Bank of Japan, criticized Bitcoin for its extreme volatility. During the interview he expressed the thought about Bitcoin being the most suitable currency for speculative trading but not for payments. 

However, Kuroda’s position towards stablecoins is different. They won his trust because they are backed by the real world’s assets. Kuroda believes that they can become an alternative means of payment if they comply with the standards of regulators.

Kuroda is sure that stimulating the economy is necessary even after the pandemics are over.

The Bank of Japan is currently working on their national cryptocurrency. At the moment they test the PoC protocol for the digital yen. This test is going to last until March 2022.

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