According to CoinMeta, former top Japanese foreign exchange official Masanori Shinohara stated on Thursday that Japan's recent actions to support the yen remind one of the Asian financial crisis, and there are not many similarities between this time and the traditional methods. He pointed out that during the Asian financial crisis at the end of the 1990s, the United States, Japan, and IMF provided US dollar funds to Thailand to bolster its foreign exchange reserves. Shinohara said that today's Japan is far from being in the same situation as Thailand back then, but there are disturbing similarities in the dynamics. He also mentioned that the joint action between Japan and the United States differs significantly from traditional coordinated interventions, which are usually based on a common judgment by major economies regarding exchange rate trends and are supported by statements from the G7 developed countries. "There are no signs that such a process occurred this time. Usually, there would be a joint statement from G7 at some point, but we have not seen one yet." Another unusual aspect of this action is that the central bank was hardly involved, whereas normally, the central bank would act in coordination with the fiscal department.