Deregulating Crypto Could Spark More Speculation Says Japan's FSA
“Deregulating Bitcoins and other cryptocurrencies may not necessarily promote technical innovation,” says Japan’s new top financial regulator. Ryozo Himino, the new commissioner of Japan's Financial Services Agency, says the agency is wary of deregulating private cryptocurrencies. Noting that the COVID-19 pandemic could accelerate the transition to a cashless society, Himono instead emphasized the potential role of central bank digital currencies (CBDC) to spearhead innovation in digital payments. “Deregulating Bitcoins and other cryptocurrencies may not necessarily promote technical innovation, if doing so simply increases speculative trading,” he told reporters on Aug.
Coin Telegraph - 5th Aug 12:08