Japanese financial regulator will not promote Bitcoin trading

Ryozo Himino, the financial regulator of Japan, is not in the favor of promoting bitcoin trading saying it will impede technical advancement. Ryozo Himino became the commissioner of the Financial Service Agency (FSA) in July 2020. Himino told Reuters: “Deregulating bitcoins and other cryptocurrencies may not necessarily promote technical innovation. If doing so simply increases speculative trading,” this will only enervate the financial system. Issuance of Japanese CBDC To enhance technical development, Japanese authorities should consider introducing central bank digital currencies (CBDC). Besides, doing so will help the nation to recover from the cash-less culture. Ryozo Himino, the financial regulator