Japan Dismisses Bitcoin in Foreign Exchange Reserve

user avatar

by Giorgi Kostiuk

2 years ago

Japan's government has declared its lack of intention to include Bitcoin in its foreign exchange reserves following Senator Hamada Satoshi's inquiry.

Prime Minister's Response to Senator's Inquiry

On December 20th, Prime Minister Ishiba Shigeru responded to Senator Hamada Satoshi's question about including Bitcoin in national reserves. The government admitted to lacking detailed information on how other nations may use Bitcoin for national reserves, as discussions are still in the early stages.

Discussion on Introducing Cryptocurrencies in Reserves

On December 11th, Senator Hamada proposed that Japan consider incorporating some of its foreign exchange reserves into Bitcoin similar to other nations. However, the government highlighted that crypto-assets do not conform to the current legal definition of foreign exchange. The aim of Japan's reserves is to stabilize foreign currency-denominated assets and bond markets.

Other Countries' Positions on Crypto Reserves

Japan prioritizes safety and liquidity, which does not align with Bitcoin's price volatility. As increasing consensus within and outside Japan supports potential inclusion of crypto-assets in national reserves, the U.S. sees Federal Reserve Chairman Jerome Powell saying the Fed cannot hold Bitcoin, yet some Republicans advocate for a strategic Bitcoin reserve.

Japan's government continues to prioritize the safety and liquidity of its reserves, favoring asset stability over the volatility of crypto markets.

Tier I

Sector: #18291

Sealed Hiding Place Room

Resource Cache

Resource Cache

Tier I

Requires 25% Tier Progress to Claim
Meme Cache

Meme Cache

Tier I

Requires 50% Tier Progress to Claim
Equipment Cache

Equipment Cache

Tier I

Requires 75% Tier Progress to Claim

After collecting, hiding places will be stored in your inventory and can be opened with Keys.

Other news

Political Fallout from Ueno Bank Crisis in Paraguay

The Ueno Bank crisis has triggered significant political repercussions in Paraguay, including the resignation of President Santiago Peña and potential impeachment proceedings.

user avatarFilippo Romano

Greece Enhances Crypto Tax Transparency Measures

Greece will implement new reporting and documentation requirements for cryptocurrency purchases starting in 2027 to ensure funds come from declared income or lawful sources.

user avatarTomas Novak

Greece Introduces 10% Tax on Crypto Investment Profits

Greece introduces a 10% tax on individual crypto investment gains starting January 1, 2027.

user avatarEmily Carter

Gnosis Pay Implements Enhanced Security Measures Following Breach

Gnosis Pay has implemented enhanced security measures, including 3D Secure for online payments and increased fraud monitoring, following a data breach.

user avatarMaya Lundqvist

Gnosis Pay Reports Data Breach Affecting Customer Information

Gnosis Pay reported a data breach where hackers accessed customer information through its card system, prompting immediate containment measures.

user avatarKaterina Papadopoulou

Ueno Digital Bank Collapse Revives Bitcoin Self-Custody Debate

The collapse of Ueno Digital Bank in Paraguay has sparked renewed discussions about financial independence and self-custody of Bitcoin, highlighting both the benefits and risks associated with managing one's own assets.

user avatarLeo van der Veen

Important disclaimer: The information presented on the Dapp.Expert portal is intended solely for informational purposes and does not constitute an investment recommendation or a guide to action in the field of cryptocurrencies. The Dapp.Expert team is not responsible for any potential losses or missed profits associated with the use of materials published on the site. Before making investment decisions in cryptocurrencies, we recommend consulting a qualified financial advisor.