Japan’s Financial Services Agency Appoints Ryozo Himino as a New Commissioner of the Watchdog
July 21, 2020 1:58 pm
Japan’s Financial Services Agency (FSA) has officially announced, that Ryozo Himino, the International Financial Deputy Counselor at Japan’s financial watchdog, will take over as the agency’s new commissioner.
In an update on July 20, the Financial Services Agency’s executive director, Himino is now listed as the commissioner of the watchdog group. The regulator was formerly the agency’s International Financial Deputy Counselor and the first Japanese Chairman of the Standing Committee of the Financial Stability Board (FSB).
Himino will be substituting outgoing commissioner Toshihide Endo, who Bitcoin bull Anthony “Pomp” Pompliano described in his role with the FSA as “a big proponent of Bitcoin and Lightning Network.”
Though the new commissioner may be fairly bullish on crypto himself. In his role as the agency’s International Financial Deputy Counselor, Himino was instrumental in helping bring Blockstream’s Adam Back to a seminar at a G20 meeting in Fukuoka last June. Also, he has analysed Facebook’s virtual currency Libra to an alarm clock, it makes “regulators and central bankers open their eyes.”
A New CBDC research team
On July 20 that the Bank of Japan (BoJ) was forming a new Central Bank Digital Currency (CBDC) research team, which will continue the work of its previous team to explore research on a CBDC.
The Bank of Japan was already working with five other central banks from Canada, the U.K., Sweden, Switzerland and the EU to consider the feasibility of digital currencies.
The appointment of a crypto-friendly regulator like Himino could probably accelerate the timeline to release a digital yen in Japan. The bank stated it would “check the feasibility of CBDC from technical perspectives, collaborate with other central banks and relevant institutions, and consider introducing a CBDC” in a report called Technical Hurdles for CBDC.