Japan’s Aso Expresses Concerns Over China’s Digital Yuan

Japan’s Finance Minister Taro Aso warned the world off China’s digital yuan, saying more work is needed before any issuance. China is expected to introduce the currency later this year, and Japanese officials have repeatedly expressed reservations about such a a move.

“There is a big risk in a central bank digital currency unless the regulation is well-sorted,” Aso told reporters in Riyadh, where G-20 finance chiefs held a meeting this weekend. “I would say ‘hold on’ for the issuance of a government-backed digital currency, at least for now.”