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The Bank of Japan will explore the design issues of a central bank digital currency in measured steps like Sweden rather than pressing ahead with large-scale pilot tests like China, according to the BOJ’s point-man on digital yen research.

“Sweden’s staged and planned expansion of experiments is a better fit for us than China’s big-scale tests from the get-go,” Kazushige Kamiyama, the head of the BOJ’s payment system department, said in an interview.

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