There are no Plans to Curb the Japanese Cryptocurrency Market, Says FSA Commissioner

The commissioner of Japan’s Financial Services Agency (FSA), Toshihide Endo has declared that the regulatory body prefers to pursue a more measured approach to regulating the country’s cryptocurrency space. The FSA has taken strict measures against defaulting virtual currency bourses in Japan after the January Coincheck hack saga.

A Measured Approach to Cryptocurrency Regulations

Speaking in an interview with Reuters, the FSA commissioner promised more moderate regulations. He said that his agency would strive to find ways of adequately regulating the digital currency market in the country. According to Endo, the Agency wishes to develop a regulatory framework that balances the need to protect consumers while not at the same time, stifling the growth of the industry.

Commenting on the matter, Endo said:

We have no intention to curb (the crypto industry) excessively,” he said. “We would like to see it grow under appropriate regulation.

Endo’s comments came as part of a…