Bank of Japan's Amamiya says no on digital currency

Bank of Japan Deputy Governor Masayoshi Amamiya says the BoJ is not looking to issue a digital currency due to unknown consequences for commercial banks. "If central bank digital currencies replace private deposits," Amamiya told Reuters, "that could erode commercial banks’ credit channels and have a negative impact on the economy." More easily issuing a negative interest rate also had little bearing on issuance as physical cash would have to be eliminated, Amamiya concluded.