New Director of Japanese Financial Services Agency Compatible with Cryptocurrencies

Jiji Press reported on July 7 that the Japanese government had decided to appoint Ryozo Himino to the next commissioner of the Japan Financial Services Agency (FSA). The official announcement will be made this month. Cointelegraph has contacted the FSA to confirm the news but has not yet received responses. 

Himino, currently an assistant international financial advisor, is known internationally. Last September, he became the first Japanese president of the Standing Committee of the Financial Stability Board (FSB). 

New FSA leader and crypto

Himino is considered sympathetic to the crypto industry. He was instrumental in the FSA's decision to invite Adam Back from Blockstream to a seminar held last June with the G20 in Fukuoka, Japan. The idea was to provide an opportunity for various stakeholders to come together at the G20 and talk about the potential of the blockchain to build decentralized financial systems. 

At the time, the FSA recognized Back as "a legendary cypherpunk" who wants to change the world with cryptography. 

To be fair, Toshihide Endo, the current director of the FSA, is also a crypto-friendly regulator. Uploading a photo he had taken with Endo, Anthony Pompliano of Morgan Creek said last September, "The Japan Financial Services Agency is a big fan of Bitcoin and the Lightning Network." 

However, the FSA appeared to be getting tougher on the crypto industry during its tenure with two controversial cryptocurrency-related laws introduced in May. The FSA also cut the leverage cap for cryptocurrency margin trading to twice. 

Libra “an awakening”

Regarding Facebook's Libra cryptocurrency, Himino said last September that it was a red flag:

“Libra's alarm bells now force regulators and central bankers to open their eyes and see clearly the problems they face sooner or later. And many other clocks may be waiting to ring next. "

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