Japan financial expert is convinced that crypto de-regulation might cause speculation growth

Japan high profile financial expert is convinced that BTC and other crypto deregulation is not always the step to technical innovation. 

Ryozo Himino, the new commissioner of Japan’s Financial Services Agency expressed cautiousness concerning private crypto de-regulation.

Having mentioned that the COVID-19 pandemic has driven the rise of cashless accounts settlement, Himono stressed the potential of the central bank digital currencies (CBDC) role at the launch of innovations in the sphere of digital payments.

Japan has to weight all options before allowing CBDC issue

Himono, known for his supporting attitude towards cryptocurrencies, did not support the idea of FSA moving in the direction of market deregulation. He has also mentioned that his organization does not take specific steps for crypto promotion around the country and has positively assessed Japan’s recent steps in the sphere of CBDC research.

As Cointelegraph earlier mentioned, Himono has been the main adept of inviting was Blockstream`s Adam Back to a seminar held in frames of J20 meeting in Fukuoka, Japan. During this seminar, the high profile investors discussed the blockchain potential for building decentralized financial systems.

Japan and international researches of CBDCs

At the beginning of this year, the Bank of Japan has cooperated with the central banks from the United Kingdom, European Union, Sweden and Switzerland for the matter of further research of CBDCS usage in their own countries. 

At the same time, China conducts independent research of digital yan usage, which draws media attention as well.

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