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Bitcoin sounds in Japan
Japanese Prime Minister Shigeru Ishiba made striking statements about strategic Bitcoin reserves. Prime Minister Ishiba has sparked a new debate.
According to the local media organization CoinPost's news dated December 26, Japan's Prime Minister Ishiba said that it is difficult to express an opinion on the implementation of a strategic Bitcoin reserve. The Prime Minister expressed that he does not have sufficient information about the moves of the US and other countries to accept Bitcoin reserves.
How is Japan approaching Bitcoin reserves?
Japanese Prime Minister Shigeru Ishiba commented, "It is difficult for the government to express its views."
Satoshi Hamada, Member of the People's Protection Party in the Parliament, said in response to Prime Minister Ishiba that Japan should follow the United States. Hamada used the following expressions:
Hamada said the following:
"I think Japan should follow the example of the United States and consider converting a portion of its currency reserves into crypto assets such as Bitcoin."
Prime Minister Ishiba stated that cryptocurrencies are not considered as currency assets.
Strike's founder and CEO Jack Mallers believes that on Donald Trump's first day in office, he will enact a law designating Bitcoin as a US reserve asset. On the other hand, Brazilian Congressman Eros Biodini proposed a bill to establish a federal Bitcoin reserve in Brazil.
While the moves of countries regarding Bitcoin attract attention, the focus is on Japan, an important economic power in Asia. It is expected that the debates about Bitcoin will intensify in the coming times.
Ripple CEO Brad Garlinghouse said he expects strong demand for a stablecoin for the Japanese yen. Garlinghouse said, "People will want to hold yen stablecoins, and I think it's only a matter of time."
This article does not contain investment advice or recommendation. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.