Masayoshi Amamiya, the head of the Bank of Japan, has raised concerns over the planned adoption of crypto assets by the nation’s financial institutions. According to him, forcing a cryptocurrency into the nation’s wider financial sector could impair the economy. Amamiya put forth the idea that these financially ordained digital currencies would inhibit the potential of commercial banks in the long run. And hence, he believes, the nation’s economy would take a blow as the process of lending and borrowing from traditional banks would also be cut down. In an official statement, he said, “If central bank digital currencies replace
