Former FSA Commissioner Joins Crypto Exchange as Special Advisor
Japan’s former top financial regulator is joining the cryptocurrency exchange DeCurret as a special advisor next month.
Toshihide Endo was the Financial Services Agency (FSA) commissioner between 2018 to 2020, during which he oversaw Japan’s banking and financial regulation, including on digital currency trading.
During his stint at FSA, Japan’s crypto exchange came under regulatory scrutiny after the Tokyo-based Coincheck was hacked in 2018. At the time, Endo said he had “no intention to curb (the crypto industry) excessively” rather strike a balance between investor protection and technological innovation.
Starting April 1st, Endo will be advising the Tokyo-based cryptocurrency exchange, which is organizing a study group that includes major firms and big banks for a common platform for the country’s digital payments system, said DeCurret on Tuesday.
Representatives from the Bank of Japan (BOJ), the FSA, and the Ministry of Finance have also joined the study group as observers, indicating their support for innovation in the fast-growing industry.
The central bank of the country is also studying the idea of issuing its own digital currency, the digital yen. It will begin the first phase of experiments on basic functions next month.