A Japanese lawmaker has urged the government to establish a national Bitcoin reserve, joining similar global calls.
Lawmaker Pushes for Bitcoin Reserve Fund in Japan
Satoshi Hamada, a Japanese MP, has asked the government to consider creating a reserve fund for Bitcoin and other cryptoassets.
Global Momentum for Bitcoin Reserves
Hamada’s proposal aligns with efforts in countries like Brazil and the United States, where officials are exploring Bitcoin as a strategic reserve asset.
“Question regarding the status of understanding the movement to introduce a national Bitcoin reserve in the United States and other countries.”
Bitcoin’s Role as a Neutral Asset
The lawmaker emphasized Bitcoin’s neutrality and decentralization, arguing that it could support economic activity without reliance on specific currencies.
Challenges and Opportunities for Japan
Although Hamada’s party holds just two seats, his proposal reflects growing support for reforming Japan’s crypto regulations. Many lawmakers believe Bitcoin could help Japan become a global blockchain hub.
Business Sector’s Growing Interest in Bitcoin
Japanese firms are increasingly looking to Bitcoin, with some using their balance sheets to purchase BTC and other cryptocurrencies. However, regulatory reforms are needed to avoid further crypto-related brain drain.
A new risk for the yen is emerging, with currency strategists in Tokyo warning that there’s a chance the Bank of Japan may stand pat on interest rates until March or later trib.al/iGblI6s
Prime Minister’s Cautious Approach
Despite growing support from lawmakers and businesses, Japan’s Prime Minister has expressed caution about sweeping crypto reforms.
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