Japanese Prime Minister Shigeru Ishiba responded to the issue of including Bitcoin in national reserves on December 26, stating that there is currently limited understanding of related trends in other countries, making it 'difficult to express a position.'
Satoshi Hamada suggested emulating the United States, and Shigeru Ishiba responded that there is insufficient information to express a position.
According to local media reports, Japanese Senator Satoshi Hamada on December 11 raised questions in the Diet, suggesting that Japan should follow the United States and convert part of its foreign exchange reserves into Bitcoin and other crypto assets. Hamada believes that cryptocurrencies have the potential for long-term value growth and can serve as a tool against traditional currency inflation. Hamada stated, 'Japan should emulate the United States and convert part of its foreign exchange reserves into Bitcoin and other crypto assets.'
Japanese Prime Minister Shigeru Ishiba formally responded to Senator Hamada's earlier questions on December 26, stating that Japan currently has limited understanding of the specific progress made by the United States and other countries regarding Bitcoin as a strategic reserve, admitting that 'the government finds it difficult to express a position on this.'
Shigeru Ishiba added that according to current Japanese law, Bitcoin and other crypto assets are not recognized as foreign exchange assets, and Japan's foreign exchange policy prioritizes 'stability' and 'security,' indicating a more conservative attitude from the Japanese government regarding the inclusion of Bitcoin in national reserves.
Divergence in US policy, while Brazil is actively promoting it.
In contrast to Japan's conservative stance, discussions about Bitcoin national reserves in the United States can be described as quite lively. Federal Reserve (FED) Chairman Powell clearly stated at a press conference on December 19 that the FED cannot hold Bitcoin, as cryptocurrencies do not comply with the Federal Reserve Act.
However, following Trump's election, there were reports that he might sign an executive order on his first day in office to promote Bitcoin as a strategic reserve asset for the United States. Meanwhile, several Republican lawmakers are also supporting related policies.
Brazil, influenced by the U.S. 'Bitcoin reserve' topic, is actively promoting Bitcoin reserves as part of its economic strategy. On November 28, authorities proposed the Bitcoin reserve bill RESBit, which could allow Bitcoin reserves to reach up to 5% of the national reserve total (approximately $16.6 billion), with a phased approach to purchasing Bitcoin.
(Brazil is also crazy about Bitcoin reserves: proposing to reserve $16.6 billion, guaranteed as central bank digital currency Drex.)
Japan's cryptocurrency regulatory framework is clear, aiding in the healthy development of the market.
Regarding Japan's application of cryptocurrencies, Ripple CEO Brad Garlinghouse stated in an interview in September that he expects yen stablecoins to be favored by the market; it's just a matter of time. Garlinghouse emphasized that while Japan is relatively conservative in some aspects, its regulatory framework for stablecoins and cryptocurrencies is clearer compared to other countries, and the market is expected to develop healthily.
This article discusses Shigeru Ishiba's 'non-statement' on Bitcoin national reserves: the Japanese government's conservative attitude and the cold response to the proposal from lawmakers first appeared in Chain News ABMedia.
