Returning to the protection-privacy trade-off, government crime control agencies may find stored-valued transactions easier to trace than cash transactions. But as said above, to the extent that the government may gain records of transactions, consumers will lose a corresponding degree of privacy.
In that regard, the Bank of Japan was the first to experience a financial crisis, and, thus, was the first to employ unprecedented measures. Since the late 1990s, the Bank of Japan has been moving aggressively as a lender of last resort, including the funds provision to the securities firm.