Japan’s New FSA Chief Backs Crypto Industry Growth

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In statements certain to encourage the domestic crypto-currency sector, Toshihide Endo, the newly appointed commissioner of Japan’s Financial Services Agency (FSA), told Reuters that the authority is aiming to ‘strike a balance’ between protecting consumers while promoting innovation within the sector without restrictive policies targeting crypto-currency exchanges.
The regulatory chief told Reuters:
“We have no intention to curb [the crypto-currency sector] excessively. We would like to see it grow under appropriate regulation.”
Japan has already taken a proactive lead among the world’s major economies by becoming the first nation to enact legislation that recognized crypto-currencies like bitcoin as a legal method of payment while regulating crypto-currency exchanges under a national licensing program.