Home Fear & Greed Pools Wallets Dictionary Advertise Facebook Twitter Telegram Reddit Youtube
Market Cap:
24h Vol:
Cryptocurrencies: 11975
Markets: 92589
CoinInsight360.com logo CoinInsight360.com logo
ENG
EST
RUS
TUR
DEU
CHI
KOR
ITA
USD
USD
AED
AFN
ALL
AMD
ANG
AOA
ARS
AUD
AWG
AZN
BAM
BBD
BDT
BGN
BHD
BIF
BMD
BND
BOB
BRL
BTN
BWP
BYN
BZD
CAD
CDF
CHF
CLF
CLP
CNH
CNY
COP
CRC
CUC
CUP
CVE
CZK
DJF
DKK
DOP
DZD
EGP
ERN
ETB
EUR
FJD
FKP
GBP
GEL
GHS
GIP
GMD
GNF
GTQ
GYD
HKD
HNL
HRK
HTG
HUF
IDR
ILS
IMP
INR
ISK
JMD
JOD
JPY
KES
KGS
KHR
KMF
KPW
KRW
KWD
KYD
KZT
LAK
LBP
LKR
LRD
LSL
LYD
MAD
MDL
MGA
MKD
MMK
MNT
MOP
MRU
MUR
MVR
MWK
MXN
MYR
MZN
NAD
NGN
NIO
NOK
NPR
NZD
OMR
PAB
PEN
PGK
PHP
PKR
PLN
PYG
QAR
RON
RSD
RUB
RWF
SAR
SBD
SCR
SDG
SEK
SGD
SHP
SLL
SRD
SSP
STD
STN
SVC
SYP
SZL
THB
TJS
TMT
TND
TOP
TRY
TTD
TWD
TZS
UAH
UGX
UYU
UZS
VES
VND
VUV
WST
ZAR
ZMW
ZWL
A company that is changing the way the world mines bitcoin

WallStreet Forex Robot 3.0
Market Cap
24h Vol
11975
Cryptocurrencies
54.28%
Bitcoin Share
Cryptopolitan 2024-12-26 05:31:02

Japan government cautions against Bitcoin as National Reserve, citing volatility and security concerns

Japan government cautions against Bitcoin as National Reserve, citing volatility and security concerns

The Japanese government is cautious about using Bitcoin as a National Reserve due to its volatility and security concerns, even though the adoption of Bitcoin (BTC) reserves at the national level is gaining attention in the US. Prime Minister Shigeru Ishiba communicated the position in a written response to House of Councilors member Satoshi Hamada, who had explored the position of adding cryptocurrencies like Bitcoin to foreign exchange reserves. The prime minister stated that they are not interested in what’s happening in the crypto space around the world, stating that they are not monitoring the movements of other countries, not even the United States. Thus, it was not easy for them to express a view. Government rejects cryptos for foreign exchange reserves The written submission explained that cryptocurrencies do not qualify as foreign exchange according to the legal guidelines on special account operations. Moreover, foreign exchange reserves are designed to stabilize foreign construction assets or bonds. The prime minister clarified that the government operates special accounts on safety and liquidity. He stated: “In the operation of special accounts, to smoothly conduct necessary foreign exchange transactions to realize the stability of the Japanese currency’s exchange rate, we operate with maximum consideration for safety and liquidity.” He added that t his is achieved using bonds such as government bonds with high liquidity and repayment certainty or deposits with foreign central banks. He continued to say that there are absolutely no plans to consider holding cryptocurrencies. Countries race to establish Bitcoin National Reserves There are many talks regarding the setting up of Bitcoin National Reserves. Even better, the talks have grown from theoretical aspects to geopolitical realities. Russia’s parliament also joined the calls for the national bank to consider Bitcoin as a reserve. Currently, almost 13 countries already hold Bitcoin. The number of Bitcoins held by countries is often shrouded in mystery, but some data gives pointers to this emerging trend. Most countries with Bitcoin have seized them due to illegality or non-adherence from holders. This highlights the dilemma between the legal demands and opportunities in the sector. The daring move by El Salvador in 2021 kicked off this trajectory. However, the recent pronouncement by US President-elect Donald Trump to establish a crypto reserve has led to renewed energy. Trump was against Cryptocurrency in his first term as president, saying that crypto is not money. However, he changed his stand, and he is vocal about Cryptocurrency today. A Step-By-Step System To Launching Your Web3 Career and Landing High-Paying Crypto Jobs in 90 Days.

Most Read News



Cryptohopper
hardware wallets, hardware , wallets, Crypto Currency, Cryptocurrency hardware wallets, Crypto Apparal, crypto wallet, Cryptocurrency wallets

Market Cap
24h Vol
54.28%
Bitcoin Share
514
Today News
Read the Disclaimer : All content provided herein our website, hyperlinked sites, associated applications, forums, blogs, social media accounts and other platforms (“Site”) is for your general information only, procured from third party sources. We make no warranties of any kind in relation to our content, including but not limited to accuracy and updatedness. No part of the content that we provide constitutes financial advice, legal advice or any other form of advice meant for your specific reliance for any purpose. Any use or reliance on our content is solely at your own risk and discretion. You should conduct your own research, review, analyse and verify our content before relying on them. Trading is a highly risky activity that can lead to major losses, please therefore consult your financial advisor before making any decision. No content on our Site is meant to be a solicitation or offer.