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Japan has decided against adding Bitcoin to its foreign exchange reserves due to concerns over its volatility and inconsistency with traditional reserve management. This stance is consistent with the country’s approach to cryptocurrency regulation, prioritizing stability and investor safety over potential benefits.
The debate on using Bitcoin as a national reserve was reignited by Japanese politician Satoshi Hamada during a parliamentary session on December 11th. Hamada argued that Japan could gain strategically from Bitcoin’s decentralized nature and neutrality as an asset. However, the government has remained resolute in its stance, citing worries about the inherent volatility of Bitcoin and the potential risks it poses to the national economy.
Japan’s position aligns with its general approach to crypto regulation, which prioritizes systematic stability and investor protection over speculative possibilities. The country has been more cautious than others, such as the United States, when considering the potential value of Bitcoin in a reserve context.
Instead, Japan is focusing on traditional reserve assets, such as government bonds and central bank deposits, to protect its economic interests against the unpredictable nature of crypto markets.
Source: http://www.crypto-news-flash.com
