Japanese financial regulator FSA (the Financial Services Agency) appointed a new commissioner in the list on Monday “Ryozo Himino”- a veteran who has demonstrated his skills in the international arena since 2003.
The updates have come following the news on adding Japan’s Central bank digital currency (CBDC) in the upcoming economic and financial plan (Japan’s Honebuto Plan for Economic and Fiscal Revitalization)
Himino is among the important figures in the Japanese Financial regulators’ list who has helped other regulators and banking institutions to realize Facebook’s stable coin Libra intention and mentioned the project as an “alarm clock” and asked everyone to open their eyes.
On September 6, 2019, Tokyo, at the Second Roundtable on Supervisory Oversight of Crypto-assets, Himino while giving the opening remarks said that-
“Libra’s alarm bell is now making regulators and central bankers open their eyes and see squarely the issues they need to face sooner or later. And many other clocks may be waiting to ring next.”
As per the Nikkie Asian Review, “The Japanese financial sector is counting on Himino’s experience in international negotiations.”
At FSA, Himino has been the vice minister for international affairs since 2016. The current Japanese Commissioner and a crypto-friendly regulator, Toshihide Endo is stepping down from the position and Himino is taking the spot.
Reportedly, Himino would likely to continue “as a chairman/counselor of the Standing Committee on Supervisory and Regulatory Cooperation at the Financial Stability Board (FSB), a title he obtained in 2019.”
On July 20, the Financial Services Agency (FSA) announced via executive directory the list of current members and the name of Ryozo Himino as a new chief in the Japanese regulators’ group.
In a Tweet on Sep 3, 2019, Anthony “Pomp” Pompliano, co-founder & Partner at Morgan Creek Digital mentioned Japan has a fairly clear regulatory framework when it comes to cryptocurrency.
During Endo’s term, Pomp uploaded a picture with Endo and described “Japan’s Financial Services Agency is a big proponent of Bitcoin and Lightning Network.”
The updates from the Japanese financial regulator showing the creed and bullishness towards launching nations’ digital currency in the form of central bank digital currency- Digital Yen.
Reportedly, Himino is quite in favor of cryptocurrencies. In his past role, as an International Financial Deputy Counselor, the minister played a crucial role to provide an opportunity to all the important stakeholders and make them appreciate the use cases of blockchain and the potential of the bleeding technology which can build unprecedented decentralized financial systems.
During the G20 meeting, in Fukuoka, Japan, June 2019, Himino also brought Adam Back- the founder of Blockstream in the conference where Back was recognized by FSA as “a legendary cypherpunk” as he is endeavoring to bring change in the world via cryptography.