Financial Services Agency (FSA) Of Japan Appoints Ryozo Himino As New Commissioner

Jyoti  |  Jul 21, 2020

Ryozo Himino would be the next leader of Japan’s Financial Services Agency (FSA), according to an announcement.

The FSA released its updated executive directory on July 20, stating that now Himino would be the commissioner of the watchdog group.

Earlier, he was the International Financial Deputy Counselor of FSA. Himino also was the first Japanese who became the Chairperson of the Standing Committee of the Financial Stability Board (FSB).

Another Crypto Proponent Became Leader Of Watchdog Group

Before Himino, Toshihide Endo was the commissioner of the watchdog group. According to Bitcoin bull Anthony “Pomp” Pompliano, Endo was a big supporter of Bitcoin and Lightning Network.

It is to be noted that the new leader of FSA is also a bit bullish towards cryptos. While Himino was the International Financial Deputy Counselor of the agency, he helped Adam Back of Blockstream to hold a seminar at G20 meeting in June 2019.

During the seminar, the developer of hashcash proof-of-work system claimed that most of the financial institutions around the world would be benefitted from the blockchain technology. 

While sitting beside the governor of the Dutch central bank, Back said that blockchain technologies would help the customers to process the international transfers and that too without the interference of any bank.

Back further in the seminar stated that all the crypto assets are like electronic cash for the global internet world.

He added, “I don’t see it as large enough to affect monetary policies for major currencies like the euro and Japanese yen.”

BoJ Forming New Team

A report published on July 20 stated that Bank of Japan has decided to form a new team which could analyze the country’s own central bank digital currency (CBDC).

The BoJ has already been working with central banks of five different countries to examine the utility of the CBDC.

Now the assumptions are being made that the newly-appointed leader of FSA would stimulate the timeline for issuing digital yen in the country.

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