Is Japan Considering Bitcoin Reserves?
Recently, the Japanese government formally responded to Senator Satoshi Hamada's inquiry about incorporating Bitcoin into the national foreign exchange reserves. Prime Minister Shigeru Ishiba clearly stated in an official document that the government is not currently considering incorporating cryptocurrency assets (including Bitcoin) into the foreign exchange reserve system, emphasizing that current policy focuses on safety and liquidity.
According to a report by Coinpost, 'NHK Party' Senator Satoshi Hamada submitted an inquiry to the government on the 11th of this month, suggesting that Japan should follow the example of the United States and other countries by converting some foreign exchange reserves into Bitcoin and other cryptocurrency assets to address the uncertainties in the global financial system.
However, in its formal response on December 20, the government pointed out that it currently does not have a grasp of the specific policy developments in the United States and other countries in this area, and emphasized that international discussions regarding Bitcoin as a reserve asset are still in the preliminary stage, making it 'difficult to express a clear opinion on the specific situation.'
Government Position: Safety and Stability First
The Japanese government explained that under the legal framework governing special accounts, the main purpose of foreign exchange reserves is to maintain the stability of foreign currency assets and the foreign currency bond market, and cryptocurrency assets (including Bitcoin) do not fall under the category of foreign exchange. Furthermore, the government reiterated that the core objective of foreign exchange reserves is to ensure safety and high liquidity, which fundamentally contradicts the high volatility of cryptocurrency assets such as Bitcoin. Therefore, incorporating Bitcoin into the national reserve system does not align with current policy objectives.
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