【The Japan Financial Services Agency Proposes Lightweight Legislation for Non-Exchange Crypto Intermediaries】Golden Finance reports that Japan is considering creating new lightweight legislation for cryptocurrency intermediaries not operating as cryptocurrency exchanges. Recently, the Japan Financial Services Agency (FSA) presented its ideas to the Financial System Council's Payment Services Working Group. In 2017, Japan introduced legislation for Cryptocurrency Asset Exchange Service Providers (CAESP) covering the buying and selling of cryptocurrencies, acting as brokers, managing funds related to these services, or providing custody. However, many so-called introducers who do not operate cryptocurrency exchanges do not consider themselves CAESP. Therefore, the FSA is considering a proposal to require them to register as intermediaries. Introducers will be obligated to provide information to users, will be subject to advertising restrictions, and may be liable for damages if issues arise. The FSA is also considering how to handle damages. Current regulations for other financial service intermediaries not belonging to larger groups require them to provide a margin to cover potential damages. If an intermediary is affiliated with a cryptocurrency exchange, the exchange may bear the liability for damages.