According to Odaily Planet Daily, Japan is considering developing new lightweight legislation for cryptocurrency intermediary institutions that do not operate cryptocurrency exchanges. The Financial Services Agency of Japan has made relevant suggestions to the Financial System Council's Payment Services Working Group.
In 2017, Japan introduced legislation for cryptocurrency asset trading service providers, but many introducers that do not operate cryptocurrency exchanges do not consider themselves CAESPs. The Financial Services Agency is considering requiring them to register as intermediaries. Introducers need to provide information to users, are subject to advertising restrictions, and may bear liability for damages. The Financial Services Agency is also considering how to handle compensation for damages; if the intermediary is affiliated with an exchange, the compensation may be borne by the exchange.
