An official sympathetic to the crypto industry was named as the next leader of the Japan Financial Services Agency.

Jiji Press reported on July 7 that the Japanese government decided to appoint Ryozo Himino as the next commissioner of the Financial Services Agency of Japan (FSA). The official announcement will be made this month.

Bank of Japan to begin experimenting with a digital yen

Cointelegraph contacted the FSA to confirm the news, but got no response yet.

Himino, currently the Deputy International Financial Advisor, is well known on the international scene. Last September, he became the first Japanese chairman of the Standing Committee of the Financial Stability Board (FSB).

The new leader of the FSA and the cryptosystems
Himino is considered to be sympathetic to the crypto industry. He was instrumental in the FSA’s decision to invite Adam Back of Blockstream to a seminar last June held in conjunction with the G20 in Fukuoka, Japan. The idea was to provide an opportunity for different participants to meet at the G20 and discuss Blockchain’s potential to build decentralised financial systems.

At that time, the FSA recognized Back as „a legendary cypherpunk“ who wants to change the world with cryptography.

The blockchain sector in Japan grows by more than 30% since 2019

To be fair, Toshihide Endo, the current head of the FSA, is also a crypto-friendly regulator. Uploading a photo he had taken with Endo, Anthony Pompliano of Morgan Creek said last September, „The Japan Financial Services Agency is a great supporter of Bitcoin and Lightning Network.

The Financial Services Agency of Japan is a great supporter of Bitcoin and Lightning Network.

The Agency’s Commissioner (top head) on the left and the Director of Innovation on the right.

The first country to adopt Bitcoin will have a significant advantage 🙏🏽

– Pomp 🌪 (@APompliano) September 3, 2019

However, the Bitcoin System appeared to be tougher on the crypto industry during its term, with two controversial laws related to cryptomonies introduced in May of this year.

Soramitsu to begin testing its „White Tiger“ digital currency at a university in Japan
Libra „an alarm clock“
As for Facebook’s crypto currency, Libra, last September Himino said it was a wake-up call:

„Libra’s warning signal makes regulators and central banks open their eyes and see the problems they must face sooner or later. And many other clocks may be waiting to strike next time.