Japanese lawmaker proposes to include Japanese digital currency in government policy guidelines

Kozo Yamamoto, head of the Japan Liberal Democratic Party ’s Financial and Banking System Research Committee, said that Facebook (FB.O) ’s move to launch Libra raises questions about whether countries will continue to control currency. Japan should establish its own digital currency and hope to achieve it within "two to three years" if possible, and incorporate this plan into the government's main policy guidelines for the middle of the year.

Earlier, another group of lawmakers led by the ruling party heavyweight and former economic minister Akira Amari had made similar suggestions. Amari hopes to issue digital yen to meet China's challenge of issuing digital currencies.