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Japanese Crypto Industry Flourishes Despite Digitization Concerns

www.coinnewsasia.com

The Bank of Japan, for instance, has as of late reported it will start taking a shot at its own CBDC, a computerized yen. The Japan Virtual and Crypto Assets Exchange Association (JVCEA) – a self-administrative association for the crypto business in Japan – as of late distributed a report on property of significant digital forms of money in the nation in March.

The Bank of Japan needs to digitize fiat money, however it is not yet clear if Japan can catch up with China, which has just started testing its own CBDC. The volume of Bitcoin spot exchanging was 617.3 billion yen (about $5.8 billion) in March, multiple times more than the exchanging volume of XRP, the second-most exchanged digital money that equivalent month.

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Bitcoin BTC
$ 69706.08
Bitcoin XRP
$ 0.613

Timeline of Bitcoin, Xrp

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Bitcoin Bitcoin
69705.4000 -1.32%
Ethereum Ethereum
3528.08000 -1.39%
BNB BNB
610.205000 3.52%
Solana Solana
183.979000 -1.61%
XRP XRP
0.61355600 -1.49%