BoJ's Kuroda: No need for digital currency in Japan

Bank of Japan's (BoJ) Governor Haruhiko Kuroda stressed on Wednesday that his country doesn't need a digital currency issued by the central bank at the moment.

"In Japan, the amount of cash outstanding is still increasing, and it does not seem that there is a demand for CBDC [Central bank digital currency] from the public at present," Kuroda said in his speech for the Symposium for the 35th Anniversary of the Center for Financial Industry Information Systems.Last month, BoJ's chief said that the bank has no plans of issuing a cryptocurrency in the near future.