Japan Rejects Bitcoin National Reserves Amid Global Crypto Trends: Report
Japan’s government has officially turned down the proposal to include Bitcoin in its national foreign exchange reserves, citing the cryptocurrency’s volatility and its incompatibility with existing financial frameworks.
This cautious stance stands in stark contrast to the growing enthusiasm for Bitcoin and other cryptocurrencies in both private sectors and among several global governments.
Government’s Caution on Bitcoin Reserves
On December 26, 2024, Japanese Prime Minister Shigeru Ishiba addressed the proposal from Senator Satoshi Hamada, a member of the House of Councilors, regarding the potential to convert part of Japan’s foreign exchange reserves into cryptocurrencies, including Bitcoin. The Japanese government responded with…
