Japanese government set to appoint Ryozo Himino as next Financial Services Agency commissioner
An official seen as favorable to cryptocurrencies has been announced as the likely next head of Japan’s Financial Services Agency (FSA).
Jiji Press reported on July 7 that the national government has decided to nominate Ryozo Himino as the next FSA commissioner. The Financial Services Agency itself has not yet confirmed the appointment, but is expected to make an official announcement later this month.
Himino currently serves as deputy international financial advisor. Last September, he became the first Japanese chair of the FSB’s Standing Committee.
Himino is generally viewed as sympathetic to the crypto industry. He played a key role in the FSA’s decision to invite Blockstream’s Adam Back to a seminar in June held alongside the G20 meeting in Fukuoka. The event aimed to provide a forum for stakeholders attending the G20 to discuss blockchain potential and the development of decentralized financial systems.
At the time, the FSA described Back as someone passionate about changing the world through cryptography and referred to him as a “legendary cypherpunk.”
The current head of the FSA, Toshihide Endo, is also known for a sympathetic stance toward cryptocurrencies. He was featured in a tweet by Anthony Pompliano of Morgan Creek with the caption that the Financial Services Agency of Japan is a strong supporter of Bitcoin and the Lightning Network.
However, during Endo’s tenure the FSA has at times taken a more cautious approach toward the crypto sector, particularly after the introduction in May of two controversial crypto-related laws. The agency also lowered the leverage cap for crypto margin trading to 2x.
In his opening remarks at the second roundtable on crypto-asset oversight held in Tokyo last September, Himino emphasized the significance of the Libra project.
“I cannot say at this stage whether the Libra project will be viable or not. However, I think Libra serves as a wake-up call for all of us,” he said.
In that address he discussed the roles of banks, cash, regulators and supervisors as the world approaches a new financial era.
“Libra’s wake-up call has prompted regulators and central bankers to open their eyes and clearly see the challenges they will sooner or later have to address. And they should expect further alarms in the future.”
Translated by Carolane de Palmas