Report: Japan is working on its own digital currency in retaliation to China’s

A group of lawmakers in Japan are reportedly working to create a state-issued digital currency. According to Reuters, one of the lawmakers said its creation was a direct response to Facebook‘s Libra and China’s digital yuan. [Read: Japan doesn’t want to fight Facebook’s ‘cryptocurrency’ Libra on its own] “China is moving toward issuing digital yuan, so we’d like to propose measures to counter such attempts,” Norihio Nakayama, parliamentary vice minister for foreign affairs, told Reuters. Indeed, Japanese lawmakers have spoken out against the digital yuan, saying that it would be a “very serious problem” if it becomes well-used for international…

This story continues at The Next Web