A cryptocurrency-sympathetic official has been named as the next head of Japan’s FSA [Financial Services Agency].
In line with a recent official press report published by Jiji Press on 7th July, the Japanese govt has decided to appoint Ryozo Himino as the new commissioner of Japan’s FSA [Financial Services Agency].
Himino, presently the International Financial Deputy Counselor, is understood on the international stage. Last September, he became the primary Japanese Chairman of the committee of the FSB [Financial Stability Board].
FSA’s Decision To Invite Blockstream`s Adam Back
Himino is taken into account sympathetic to the crypto industry. He was instrumental within the FSA’s decision to invite Blockstream`s Adam Back to a seminar last June held along side G20 Fukuoka, Japan. The thought was to offer a chance for various stakeholders to collect at G20 and mention the potential of blockchain to create decentralized financial systems.
At the present times, the FSA acknowledged Back as “a legendary cypherpunk” who wants to amend the world with cryptography.
To be fair, Toshihide Endo, the present head of FSA, is additionally a crypto-friendly regulator. Uploading an image he’d taken Endo, Morgan Creek’s Anthony Pompliano revealed last September “Japan’s Financial Services Agency might be a big proponent of Bitcoin and Lightning Network”.
However, the FSA seemed to become more strict about the crypto industry during his term with two controversial cryptocurrency-related laws introduced this may. The FSA has also cut the leverage cap for crypto marginal trading to 2x times.
Facebook Cryptocurrency & Regulations
Regarding Facebook`s Libra cryptocurrency, last September Himino said it had been an awaken call:
“Libra’s alarm bell is now making regulators and central bankers to open their eyes and see squarely the problems they have to face sooner or later.”